Vestmark Advisory Solutions Inc. Buys Shares of 2,979 Citigroup Inc. (NYSE:C)

Vestmark Advisory Solutions Inc. bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,979 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Swedbank AB grew its position in shares of Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after purchasing an additional 3,947,912 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $198,231,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research 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 research report on Monday, January 6th. Bank of America raised their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 0.0 %

Shares of C opened at $70.55 on Monday. The firm has a market cap of $132.94 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company’s fifty day moving average is $77.90 and its two-hundred day moving average is $69.78. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its 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 business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. 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.