Catalyst Funds Management Pty Ltd Takes Position in Citigroup Inc. (NYSE:C)

Catalyst Funds Management Pty Ltd acquired a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 24,900 shares of the company’s stock, valued at approximately $1,753,000.

Several other large investors also recently modified their holdings of C. Hills Bank & Trust Co acquired a new position in shares of Citigroup in the 4th quarter worth approximately $107,000. Atala Financial Inc acquired a new position in shares of Citigroup in the 4th quarter worth approximately $184,000. LBP AM SA boosted its holdings in shares of Citigroup by 1,176.2% in the 4th quarter. LBP AM SA now owns 108,953 shares of the company’s stock worth $7,669,000 after acquiring an additional 100,416 shares in the last quarter. CFO4Life Group LLC boosted its holdings in shares of Citigroup by 1.9% in the 4th quarter. CFO4Life Group LLC now owns 7,735 shares of the company’s stock worth $544,000 after acquiring an additional 145 shares in the last quarter. Finally, Balboa Wealth Partners acquired a new position in shares of Citigroup in the 4th quarter worth approximately $255,000. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

C has been the topic of several recent analyst reports. Oppenheimer reduced their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Morgan Stanley upped their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Activity at Citigroup

In related news, 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 value of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

C stock opened at $68.84 on Friday. The business’s fifty day moving average is $77.63 and its 200-day moving average is $69.89. 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 company has a market cap of $129.73 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its board has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.