Citigroup Inc. (NYSE:C) Shares Acquired by SlateStone Wealth LLC

SlateStone Wealth LLC boosted its stake in Citigroup Inc. (NYSE:C) by 17.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,602 shares of the company’s stock after acquiring an additional 695 shares during the quarter. SlateStone Wealth LLC’s holdings in Citigroup were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after buying an additional 791,758 shares in the last quarter. Franklin Resources Inc. grew its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Citigroup by 3.6% during the 4th quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock valued at $2,112,698,000 after purchasing an additional 1,043,826 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Citigroup by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock valued at $670,021,000 after purchasing an additional 240,628 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several research reports. Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Shares of C opened at $68.84 on Monday. The firm has a market cap of $129.73 billion, a PE ratio of 11.57, a PEG ratio of 0.64 and a beta of 1.43. The firm’s 50 day moving average price is $77.63 and its 200 day moving average price is $70.00. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

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

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

Citigroup announced that its Board of Directors has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’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 sale, the chief financial officer now 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. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

About Citigroup

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.