Castlekeep Investment Advisors LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,617,492 shares of the company's stock, valued at approximately $113,855,000. Castlekeep Investment Advisors LLC owned about 0.09% of Citigroup at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in C. World Investment Advisors LLC lifted its stake in Citigroup by 36.6% in the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock valued at $1,348,000 after buying an additional 5,763 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Citigroup by 11.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,728,261 shares of the company's stock worth $233,389,000 after purchasing an additional 383,534 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company's stock worth $501,994,000 after acquiring an additional 1,731,527 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Citigroup by 193.1% in the 4th quarter. CWA Asset Management Group LLC now owns 47,644 shares of the company's stock valued at $3,354,000 after purchasing an additional 31,387 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. acquired a new stake in Citigroup during the fourth quarter worth approximately $274,000. Hedge funds and other institutional investors own 71.72% of the company's stock.
Citigroup Stock Up 1.2 %
NYSE C traded up $0.83 during trading hours on Wednesday, hitting $70.30. 11,619,147 shares of the company traded hands, compared to its average volume of 14,402,420. The stock has a market capitalization of $132.32 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The business's 50-day moving average is $67.68 and its 200-day moving average is $71.33. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. Citigroup's dividend payout ratio is currently 35.39%.
Citigroup declared that its board has authorized a stock repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on C shares. StockNews.com lowered Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Evercore ISI reduced their price target on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Morgan Stanley cut their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Oppenheimer upped their target price on shares of Citigroup from $91.00 to $94.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.04.
Get Our Latest Analysis on Citigroup
Insider Buying and Selling at Citigroup
In other news, COO Anand Selvakesari sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the 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 approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,007 shares of company stock worth $8,824,653. 0.08% of the stock is currently owned by company insiders.
About Citigroup
(
Free Report)
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.
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