Cibc World Markets Corp Has $70.26 Million Stake in Citigroup Inc. (NYSE:C)

Cibc World Markets Corp reduced its stake in Citigroup Inc. (NYSE:C) by 6.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 998,197 shares of the company’s stock after selling 68,688 shares during the quarter. Cibc World Markets Corp’s holdings in Citigroup were worth $70,263,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brookstone Capital Management raised its stake in Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. increased its stake in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares during the period. FNY Investment Advisers LLC lifted its position in shares of Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares during the period. HighTower Advisors LLC grew its holdings in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of Citigroup by 12.7% during the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after purchasing an additional 22,657 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated 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 transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on C. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Bank of America boosted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Citigroup stock opened at $68.84 on Monday. The business’s 50-day simple moving average is $77.63 and its 200 day simple moving average is $70.00. The stock has a market cap of $129.73 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12-month low of $53.51 and a 12-month 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 posted its quarterly earnings results 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 for 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 firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

About Citigroup

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.