Focus Partners Wealth Purchases 214,623 Shares of Citigroup Inc. (NYSE:C)

Focus Partners Wealth increased its position in shares of Citigroup Inc. (NYSE:C) by 301.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285,860 shares of the company’s stock after buying an additional 214,623 shares during the quarter. Focus Partners Wealth’s holdings in Citigroup were worth $20,545,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Core Alternative Capital boosted its position in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $35,000. Webster Bank N. A. lifted its position in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $39,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

C has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Bank of America cut their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Oppenheimer raised their price objective on Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group dropped their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $84.04.

Insider Activity

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of Citigroup 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 transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now directly owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,007 shares of company stock worth $8,824,653. Insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $71.39 on Monday. The stock’s fifty day moving average price is $67.56 and its two-hundred day moving average price is $71.57. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $134.37 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. Citigroup’s payout ratio is 35.39%.

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

Citigroup 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.