HB Wealth Management LLC increased its stake in shares of Citigroup Inc. (NYSE:C – Get Rating) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,312 shares of the company’s stock after purchasing an additional 2,231 shares during the period. HB Wealth Management LLC’s holdings in Citigroup were worth $1,054,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in C. Snider Financial Group grew its stake in shares of Citigroup by 96,645.9% during the first quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock worth $4,512,000 after purchasing an additional 84,407,589 shares during the period. Two Sigma Investments LP grew its stake in Citigroup by 16,821.8% in the third quarter. Two Sigma Investments LP now owns 4,246,690 shares of the company’s stock valued at $176,960,000 after acquiring an additional 4,221,594 shares during the period. Barclays PLC grew its stake in Citigroup by 43.4% in the third quarter. Barclays PLC now owns 11,605,973 shares of the company’s stock valued at $483,623,000 after acquiring an additional 3,512,239 shares during the period. AQR Capital Management LLC grew its stake in Citigroup by 104.7% in the second quarter. AQR Capital Management LLC now owns 4,728,839 shares of the company’s stock valued at $215,115,000 after acquiring an additional 2,419,202 shares during the period. Finally, River & Mercantile Asset Management LLP grew its stake in Citigroup by 582.2% in the third quarter. River & Mercantile Asset Management LLP now owns 2,183,604 shares of the company’s stock valued at $153,212,000 after acquiring an additional 1,863,528 shares during the period. 70.90% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Citigroup news, insider Michael Whitaker sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $51.63, for a total transaction of $645,375.00. Following the transaction, the insider now owns 239,429 shares of the company’s stock, valued at $12,361,719.27. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Sara Wechter sold 2,950 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $50.77, for a total value of $149,771.50. Following the transaction, the insider now owns 82,779 shares of the company’s stock, valued at $4,202,689.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Whitaker sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $51.63, for a total value of $645,375.00. Following the completion of the transaction, the insider now directly owns 239,429 shares in the company, valued at approximately $12,361,719.27. The disclosure for this sale can be found here. Insiders have sold a total of 27,353 shares of company stock valued at $1,403,390 over the last 90 days. 0.08% of the stock is currently owned by insiders.
Citigroup Stock Performance
Citigroup (NYSE:C – Get Rating) last released its earnings results on Friday, January 13th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.08). Citigroup had a return on equity of 8.14% and a net margin of 14.73%. The company had revenue of $18.01 billion for the quarter, compared to the consensus estimate of $17.91 billion. As a group, sell-side analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.
Citigroup Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Monday, February 6th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 29.14%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on C shares. Deutsche Bank Aktiengesellschaft decreased their target price on Citigroup from $52.00 to $46.00 in a research note on Friday, January 6th. Morgan Stanley decreased their target price on Citigroup from $45.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, January 6th. Oppenheimer decreased their target price on Citigroup from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, March 23rd. Piper Sandler boosted their target price on Citigroup from $47.00 to $51.00 in a research note on Tuesday, January 17th. Finally, Barclays boosted their price target on Citigroup from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Citigroup currently has an average rating of “Hold” and an average target price of $55.16.
Citigroup Company Profile
Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.
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