Freestone Grove Partners LP Makes New Investment in Citigroup Inc. (NYSE:C)

Freestone Grove Partners LP purchased a new position in Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,016,120 shares of the company's stock, valued at approximately $71,525,000. Citigroup accounts for approximately 0.9% of Freestone Grove Partners LP's holdings, making the stock its 14th biggest position. Freestone Grove Partners LP owned about 0.05% of Citigroup at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Resource Group grew its holdings in Citigroup by 3.7% during the third quarter. Advisory Resource Group now owns 72,947 shares of the company's stock worth $4,566,000 after acquiring an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd grew its stake in shares of Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock worth $12,617,000 after purchasing an additional 12,810 shares during the period. Anchor Investment Management LLC increased its holdings in shares of Citigroup by 24.4% during the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock valued at $160,000 after purchasing an additional 501 shares in the last quarter. World Investment Advisors LLC lifted its stake in shares of Citigroup by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock valued at $1,348,000 after purchasing an additional 5,763 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Citigroup by 432.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company's stock worth $2,391,000 after buying an additional 31,020 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

C has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Truist Financial dropped their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Bank of America cut their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada reduced their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Finally, StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $84.04.

Citigroup Trading Up 3.6 %

NYSE:C traded up $2.43 during trading hours on Friday, reaching $70.57. 13,286,259 shares of the stock were exchanged, compared to its average volume of 14,435,626. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The business has a 50-day moving average of $68.24 and a two-hundred day moving average of $71.25. The company has a market capitalization of $132.82 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.29. 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 - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed 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. This represents a $2.24 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's payout ratio is 35.39%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,007 shares of company stock worth $8,824,653. Corporate insiders own 0.08% of the company's stock.

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.