AMF Tjanstepension AB Boosts Stock Holdings in Citigroup Inc. (NYSE:C)

AMF Tjanstepension AB boosted its stake in Citigroup Inc. (NYSE:C) by 590.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 508,215 shares of the company’s stock after purchasing an additional 434,621 shares during the quarter. AMF Tjanstepension AB’s holdings in Citigroup were worth $35,779,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Core Alternative Capital increased its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in Citigroup during the 3rd quarter valued at approximately $31,000. Webster Bank N. A. increased its stake in Citigroup by 150.0% in the 4th 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. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI upped their target price 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. Morgan Stanley increased their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Performance

Shares of Citigroup stock opened at $70.55 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s fifty day moving average is $77.91 and its two-hundred day moving average is $69.60. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a market capitalization of $132.94 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $19.51 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

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.