65,104 Shares in Citigroup Inc. (NYSE:C) Purchased by FJ Capital Management LLC

FJ Capital Management LLC bought a new stake in Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 65,104 shares of the company's stock, valued at approximately $4,583,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of C. Fred Alger Management LLC bought a new stake in shares of Citigroup during the fourth quarter worth $15,439,000. Family Management Corp lifted its position in shares of Citigroup by 4.8% during the fourth quarter. Family Management Corp now owns 84,658 shares of the company's stock worth $5,798,000 after purchasing an additional 3,860 shares during the last quarter. Chescapmanager LLC bought a new stake in shares of Citigroup during the fourth quarter worth $11,620,000. Eagle Global Advisors LLC bought a new stake in shares of Citigroup during the fourth quarter worth $218,000. Finally, Collar Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at $2,789,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on C shares. Piper Sandler reiterated an "overweight" rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Evercore ISI cut their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.04.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,007 shares of company stock valued at $8,824,653 in the last three months. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

NYSE:C traded up $3.39 during trading hours on Monday, reaching $74.84. The company had a trading volume of 18,456,415 shares, compared to its average volume of 14,439,388. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The firm has a market cap of $140.85 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The business's 50 day moving average price is $67.56 and its 200-day moving average price is $71.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is presently 35.39%.

Citigroup declared that its board has authorized a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.