O Shaughnessy Asset Management LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

O Shaughnessy Asset Management LLC raised its position in Citigroup Inc. (NYSE:C) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 405,692 shares of the company’s stock after buying an additional 56,432 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Citigroup were worth $28,557,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Clearbridge Investments LLC lifted its position in shares of Citigroup by 23.6% in the fourth quarter. Clearbridge Investments LLC now owns 176,029 shares of the company’s stock valued at $12,391,000 after acquiring an additional 33,641 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Citigroup by 74.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 49,019 shares of the company’s stock valued at $3,591,000 after purchasing an additional 20,918 shares in the last quarter. Summit Securities Group LLC boosted its stake in Citigroup by 291.5% during the 4th quarter. Summit Securities Group LLC now owns 23,100 shares of the company’s stock worth $1,626,000 after purchasing an additional 17,200 shares during the last quarter. L & S Advisors Inc purchased a new position in shares of Citigroup in the fourth quarter worth about $6,312,000. Finally, Allianz SE acquired a new position in Citigroup during the fourth quarter worth about $9,909,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $70.28 on Friday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business has a 50-day simple moving average of $77.06 and a 200-day simple moving average of $70.72. 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 company has a market cap of $132.28 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.19%. Citigroup’s payout ratio is currently 37.65%.

Insider Transactions at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was 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 owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on C shares. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, The Goldman Sachs Group reduced their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $84.50.

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.