Citigroup Inc. (NYSE:C) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Citigroup Inc. (NYSE:C) by 15.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,167 shares of the company’s stock after purchasing an additional 2,023 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Citigroup were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares during the period. Franklin Resources Inc. boosted its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC boosted its position in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after buying an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Citigroup by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock valued at $670,021,000 after buying an additional 240,628 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Finally, Bank of America upped their target price 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

C opened at $82.45 on Friday. The firm has a market cap of $155.94 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The company’s 50-day moving average price is $74.45 and its 200 day moving average price is $67.02. 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 released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share 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 firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid 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 2.72%. Citigroup’s payout ratio 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.