Algert Global LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Algert Global LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,247 shares of the company’s stock after purchasing an additional 4,200 shares during the quarter. Algert Global LLC’s holdings in Citigroup were worth $4,452,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. raised its position in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock valued at $24,844,000 after purchasing an additional 11,674 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after buying an additional 27,856 shares in the last quarter. Invesco Ltd. lifted its position in Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after buying an additional 1,970,300 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after buying an additional 12,280 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after acquiring an additional 22,657 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $70.21 on Tuesday. 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 capitalization of $132.15 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 0.64 and a beta of 1.30. The company has a 50 day simple moving average of $68.06 and a two-hundred day simple moving average of $71.35. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

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

Wall Street Analysts Forecast Growth

C has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial decreased their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Evercore ISI cut their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group dropped their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $84.04.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,007 shares of company stock worth $8,824,653 over the last quarter. 0.08% of the stock is currently owned by insiders.

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.