Longbow Finance SA Makes New Investment in Citigroup Inc. (NYSE:C)

Longbow Finance SA acquired a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, Holdings Channel.com reports. The firm acquired 128,728 shares of the company’s stock, valued at approximately $9,061,000. Citigroup accounts for 1.0% of Longbow Finance SA’s holdings, making the stock its 29th largest position.

Several other institutional investors also recently bought and sold shares of C. Hemington Wealth Management increased its holdings in shares of Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after acquiring an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares during the period. Avitas Wealth Management LLC increased its holdings in shares of Citigroup by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after acquiring an additional 143 shares during the period. NTV Asset Management LLC increased its holdings in shares of Citigroup by 2.5% in the 4th quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock valued at $429,000 after acquiring an additional 148 shares during the period. Finally, Robertson Stephens Wealth Management LLC increased its holdings in shares of Citigroup by 0.4% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after acquiring an additional 150 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Piper Sandler restated 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Activity

In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction dated 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 directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of C opened at $78.49 on Tuesday. The stock has a 50-day moving average of $76.94 and a two-hundred day moving average of $68.80. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $148.44 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.64 and a beta of 1.44.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has authorized a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is 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.