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:C) 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.

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:C) 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

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.