HUB Investment Partners LLC Grows Stake in Citigroup Inc. (NYSE:C)

HUB Investment Partners LLC boosted its position in Citigroup Inc. (NYSE:C) by 36.5% in the 4th quarter, Holdings Channel reports. The firm owned 15,022 shares of the company’s stock after buying an additional 4,013 shares during the quarter. HUB Investment Partners LLC’s holdings in Citigroup were worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Blake Schutter Theil Wealth Advisors LLC lifted its stake in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares during the last quarter. Hemington Wealth Management lifted its stake in Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after purchasing an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after purchasing an additional 137 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Citigroup by 2.4% during the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after acquiring an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Citigroup by 1.7% during the fourth 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 in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were 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 $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the business’s 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 directly owns 217,331 shares in the company, valued at $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. Insiders have sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

NYSE C opened at $71.80 on Friday. The firm’s fifty day simple moving average is $77.45 and its two-hundred day simple moving average is $70.13. 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. The firm has a market capitalization of $135.31 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released its quarterly 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 analyst estimates of $19.51 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has approved a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Bank of America lifted 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. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.53.

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.