Flputnam Investment Management Co. Raises Stock Position in Citigroup Inc. (NYSE:C)

Flputnam Investment Management Co. lifted its position in Citigroup Inc. (NYSE:C) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,256 shares of the company’s stock after purchasing an additional 651 shares during the period. Flputnam Investment Management Co.’s holdings in Citigroup were worth $370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of C. Hosking Partners LLP lifted its stake in Citigroup by 5.5% in the fourth quarter. Hosking Partners LLP now owns 1,240,236 shares of the company’s stock worth $87,300,000 after acquiring an additional 64,743 shares during the period. Fusion Capital LLC lifted its position in shares of Citigroup by 9.8% in the 4th quarter. Fusion Capital LLC now owns 14,770 shares of the company’s stock worth $1,040,000 after purchasing an additional 1,317 shares during the period. QRG Capital Management Inc. increased its holdings in Citigroup by 3.6% during the fourth quarter. QRG Capital Management Inc. now owns 308,376 shares of the company’s stock valued at $21,707,000 after buying an additional 10,803 shares during the period. Consilium Wealth Advisory LLC raised its stake in Citigroup by 18.3% in the fourth quarter. Consilium Wealth Advisory LLC now owns 25,793 shares of the company’s stock worth $1,816,000 after buying an additional 3,995 shares in the last quarter. Finally, Versor Investments LP lifted its holdings in Citigroup by 172.2% during the fourth quarter. Versor Investments LP now owns 24,500 shares of the company’s stock worth $1,725,000 after buying an additional 15,500 shares during the period. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

NYSE C opened at $77.14 on Tuesday. The company has a market cap of $145.37 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $77.87 and its 200 day moving average price is $69.49. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

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

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 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.