Citigroup Inc. (NYSE:C) Stake Boosted by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in Citigroup Inc. (NYSE:C) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,014,183 shares of the company’s stock after purchasing an additional 1,043,826 shares during the quarter. Fisher Asset Management LLC owned approximately 1.59% of Citigroup worth $2,112,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares in the last quarter. Swedbank AB grew its stake in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $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 Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB grew its stake in Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Citigroup by 103.6% during the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after acquiring an additional 1,410,950 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 1.2 %

C opened at $79.78 on Friday. The business has a 50 day moving average price of $77.72 and a 200 day moving average price of $69.23. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. 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 firm has a market cap of $150.89 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44.

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

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.81%. 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 share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on 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 directly owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 in the last three months. Company insiders own 0.08% of the company’s stock.

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.