Polar Capital Holdings Plc Purchases 120,701 Shares of Citigroup Inc. (NYSE:C)

Polar Capital Holdings Plc lifted its position in Citigroup Inc. (NYSE:C) by 89.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,085 shares of the company’s stock after buying an additional 120,701 shares during the quarter. Polar Capital Holdings Plc’s holdings in Citigroup were worth $17,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blake Schutter Theil Wealth Advisors LLC lifted its holdings in Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares during the last quarter. Hemington Wealth Management increased its position in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after buying an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after acquiring an additional 137 shares during the period. Rakuten Securities Inc. boosted its position in shares of Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after acquiring an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on C. Piper Sandler restated an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Truist Financial decreased their price target on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. TD Cowen began coverage on shares of Citigroup in a research note on Thursday. They issued a “hold” rating and a $83.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.97.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s 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 transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Up 0.8%

C opened at $75.87 on Friday. The stock has a market capitalization of $141.70 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 0.64 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a 50-day simple moving average of $67.96 and a 200 day simple moving average of $71.80.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.95%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

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.