NewEdge Wealth LLC Boosts Position in Citigroup Inc. (NYSE:C)

NewEdge Wealth LLC grew its position in Citigroup Inc. (NYSE:C) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,119 shares of the company’s stock after buying an additional 2,434 shares during the quarter. NewEdge Wealth LLC’s holdings in Citigroup were worth $1,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brookstone Capital Management grew its holdings in Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after buying an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. boosted its stake in shares of Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares during the last quarter. HighTower Advisors LLC increased its position in Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated 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 owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of recent research reports. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $79.78 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The business has a 50 day moving average price of $77.72 and a two-hundred day moving average price of $69.31. The firm has a market cap of $150.35 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup Company Profile

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.