Amundi Raises Stock Position in Citigroup Inc. (NYSE:C)

Amundi lifted its position in Citigroup Inc. (NYSE:C) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,687,249 shares of the company’s stock after buying an additional 780,366 shares during the period. Amundi owned approximately 0.41% of Citigroup worth $563,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Core Alternative Capital boosted its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Citigroup in the 3rd quarter worth approximately $31,000. Creative Capital Management Investments LLC acquired a new stake in Citigroup in the 4th quarter worth approximately $35,000. Webster Bank N. A. boosted its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in Citigroup in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on C. Evercore ISI lifted 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. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Morgan Stanley lifted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Finally, StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Activity

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were 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 owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

Citigroup stock opened at $70.55 on Friday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.43. The company has a fifty day simple moving average of $77.91 and a 200-day simple moving average of $69.60. 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 (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during 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 for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.