Fusion Capital LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Fusion Capital LLC grew its stake in shares of Citigroup Inc. (NYSE:C) by 9.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,770 shares of the company’s stock after buying an additional 1,317 shares during the period. Fusion Capital LLC’s holdings in Citigroup were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Core Alternative Capital lifted its holdings in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the third quarter valued at approximately $31,000. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup in the fourth quarter worth $35,000. Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Citigroup in the 4th quarter valued at $37,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 0.2 %

C opened at $78.91 on Friday. 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’s 50 day moving average price is $77.51 and its 200-day moving average price is $69.08. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The stock has a market cap of $149.24 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts forecast 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. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.84%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. 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. Finally, Bank of America increased their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.