Impax Asset Management Group plc Buys 27,322 Shares of Citigroup Inc. (NYSE:C)

Impax Asset Management Group plc increased its stake in shares of Citigroup Inc. (NYSE:C) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,357 shares of the company’s stock after buying an additional 27,322 shares during the quarter. Impax Asset Management Group plc’s holdings in Citigroup were worth $12,836,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after acquiring an additional 791,758 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Citigroup by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Citigroup by 9.8% during 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 purchasing 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 third 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 in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction on 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 owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company’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 completion of the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

Citigroup stock opened at $78.49 on Tuesday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company’s 50-day moving average is $76.94 and its two-hundred day moving average is $68.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $148.44 billion, a PE ratio of 13.19, a PEG ratio of 0.64 and a beta of 1.44.

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

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

Citigroup Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup 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.