Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Citigroup Inc. (NYSE:C)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Citigroup Inc. (NYSE:CFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 172,513 shares of the company’s stock, valued at approximately $12,143,000.

Several other hedge funds also recently modified their holdings of the company. Core Alternative Capital lifted its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the period. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter worth about $31,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC acquired a new position in Citigroup during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the business’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 completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on C. The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley lifted their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Read Our Latest Research Report on Citigroup

Citigroup Stock Performance

Shares of Citigroup stock opened at $68.84 on Friday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The firm has a market capitalization of $129.73 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.64 and a beta of 1.43. The business has a 50-day simple moving average of $77.63 and a 200 day simple moving average of $69.89. 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:CGet Free Report) last released its quarterly earnings results 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.25%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup Company Profile

(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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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