Generali Asset Management SPA SGR Buys New Shares in Citigroup Inc. (NYSE:C)

Generali Asset Management SPA SGR bought a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 121,656 shares of the company’s stock, valued at approximately $8,563,000.

Several other hedge funds have also recently made changes to their positions in C. Swedbank AB boosted its holdings in Citigroup by 1.3% in the third 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 during the last quarter. Empowered Funds LLC boosted its holdings in Citigroup by 9.7% in the third quarter. Empowered Funds LLC now owns 41,171 shares of the company’s stock valued at $2,577,000 after purchasing an additional 3,630 shares during the last quarter. Claro Advisors LLC boosted its holdings in Citigroup by 18.5% in the third quarter. Claro Advisors LLC now owns 12,559 shares of the company’s stock valued at $786,000 after purchasing an additional 1,965 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Citigroup by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 145,663 shares of the company’s stock valued at $9,118,000 after purchasing an additional 3,482 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new stake in Citigroup in the third quarter valued at $1,522,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on C shares. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Evercore ISI increased their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Up 1.7 %

C stock opened at $69.96 on Tuesday. The firm has a 50-day moving average of $77.58 and a two-hundred day moving average of $70.06. The company has a market cap of $131.84 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.64 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

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

Citigroup Dividend Announcement

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 $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.20%. Citigroup’s dividend payout ratio is presently 37.65%.

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 shares. This buyback authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.