DMKC Advisory Services LLC Purchases New Position in Citigroup Inc. (NYSE:C)

DMKC Advisory Services LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, Holdings Channel.com reports. The firm purchased 19,707 shares of the company’s stock, valued at approximately $1,387,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Swedbank AB increased its stake in Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after buying an additional 3,947,912 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after buying an additional 1,731,527 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after acquiring an additional 1,410,950 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Down 0.5 %

Shares of C stock opened at $78.15 on Wednesday. The stock has a market capitalization of $147.80 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.64 and a beta of 1.44. The company’s fifty day simple moving average is $77.08 and its two-hundred day simple moving average is $68.94. Citigroup Inc. has a 1 year low of $53.51 and a 1 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.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. As a group, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated 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 directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by company insiders.

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.