StoneX Group Inc. Takes $862,000 Position in Citigroup Inc. (NYSE:C)

StoneX Group Inc. acquired a new position in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,247 shares of the company’s stock, valued at approximately $862,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in C. American Century Companies Inc. grew its holdings in Citigroup by 3.4% during the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock valued at $24,844,000 after buying an additional 11,674 shares in the last quarter. Brookstone Capital Management grew its stake in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. increased its holdings in Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after acquiring an additional 20,000 shares during the period. FNY Investment Advisers LLC lifted 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 worth $1,376,000 after purchasing an additional 12,280 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after purchasing an additional 8,301 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Insider Activity at Citigroup

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Bank of America lowered their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.86.

Citigroup Stock Performance

Citigroup stock opened at $71.81 on Thursday. The firm has a fifty day simple moving average of $76.46 and a two-hundred day simple moving average of $71.01. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market capitalization of $135.16 billion, a PE ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.43. 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 (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. Research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

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.