Citigroup Inc. (NYSE:C) Shares Bought by Waterfront Wealth Inc.

Waterfront Wealth Inc. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,762 shares of the company’s stock after purchasing an additional 300 shares during the period. Waterfront Wealth Inc.’s holdings in Citigroup were worth $2,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in C. Franklin Resources Inc. grew its stake in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares in the last quarter. Swedbank AB grew its stake in shares of Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after acquiring an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after acquiring an additional 1,410,950 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The transaction 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 the stock in a transaction that occurred on 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 sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $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 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by company insiders.

Citigroup Stock Down 3.1 %

Citigroup stock opened at $81.32 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company’s 50 day simple moving average is $76.63 and its 200 day simple moving average is $68.32. The firm has a market capitalization of $153.79 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.67 and a beta of 1.44.

Citigroup (NYSE:C) last announced 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. 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 analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. Citigroup’s dividend payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

C has been the subject of several research analyst reports. Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.93.

About Citigroup

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.