Polar Capital Holdings Plc Acquires 120,701 Shares of Citigroup Inc. (NYSE:C)

Polar Capital Holdings Plc increased its stake in Citigroup Inc. (NYSE:C - Free Report) by 89.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,085 shares of the company's stock after acquiring an additional 120,701 shares during the quarter. Polar Capital Holdings Plc's holdings in Citigroup were worth $17,955,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ProShare Advisors LLC increased its stake in Citigroup by 10.5% during the 4th quarter. ProShare Advisors LLC now owns 405,270 shares of the company's stock valued at $28,527,000 after purchasing an additional 38,596 shares in the last quarter. Quadcap Wealth Management LLC increased its stake in Citigroup by 5.0% during the 4th quarter. Quadcap Wealth Management LLC now owns 14,637 shares of the company's stock valued at $1,030,000 after purchasing an additional 696 shares in the last quarter. Quantinno Capital Management LP increased its stake in Citigroup by 25.2% during the 4th quarter. Quantinno Capital Management LP now owns 281,115 shares of the company's stock valued at $19,788,000 after purchasing an additional 56,666 shares in the last quarter. Pathstone Holdings LLC increased its stake in Citigroup by 7.8% during the 4th quarter. Pathstone Holdings LLC now owns 161,489 shares of the company's stock valued at $11,370,000 after purchasing an additional 11,747 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in Citigroup during the 4th quarter valued at $2,205,000. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE C traded down $0.30 during trading on Friday, hitting $75.66. 13,995,671 shares of the company's stock traded hands, compared to its average volume of 14,522,542. The stock has a market capitalization of $141.31 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50 day moving average of $68.12 and a 200-day moving average of $71.98.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio is presently 35.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on C. Truist Financial decreased their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. 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. The Goldman Sachs Group reduced their target price on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Bank of America reduced 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. 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 note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup Company 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.