15,550 Shares in Citigroup Inc. (NYSE:C) Bought by Prasad Wealth Partners LLC

Prasad Wealth Partners LLC bought a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,550 shares of the company’s stock, valued at approximately $1,095,000.

Several other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Swedbank AB grew its position in shares of Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after buying an additional 3,947,912 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares during the period. Nordea Investment Management AB grew its position in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after buying an additional 1,731,527 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Citigroup by 103.6% in the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after buying an additional 1,410,950 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 1.5 %

Citigroup stock opened at $78.49 on Tuesday. The firm has a 50 day moving average of $76.94 and a 200 day moving average of $68.80. The firm has a market capitalization of $148.44 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its board has approved a share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on C. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.