Citigroup Inc. (NYSE:C) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. increased its stake in Citigroup Inc. (NYSE:C) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,609 shares of the company’s stock after purchasing an additional 1,345 shares during the quarter. Kovack Advisors Inc.’s holdings in Citigroup were worth $465,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in C. AMF Tjanstepension AB purchased a new position in shares of Citigroup in the 3rd quarter valued at about $4,607,000. Swedbank AB increased its holdings in shares of Citigroup by 1.3% in the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Citigroup by 75.8% in the 3rd quarter. JFS Wealth Advisors LLC now owns 4,060 shares of the company’s stock valued at $254,000 after purchasing an additional 1,751 shares in the last quarter. Goldstone Financial Group LLC purchased a new position in shares of Citigroup in the 3rd quarter valued at about $398,000. Finally, Catalyst Financial Partners LLC increased its holdings in Citigroup by 6.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,697 shares of the company’s stock valued at $294,000 after acquiring an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup 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 company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

C opened at $79.78 on Friday. The company’s 50 day simple moving average is $77.72 and its 200 day simple moving average is $69.23. 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 1 year low of $53.51 and a 1 year high of $84.74. The stock has a market capitalization of $150.89 billion, a PE ratio of 13.41, a P/E/G ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

Citigroup 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.