Great Lakes Advisors LLC Has $67.79 Million Stake in Citigroup Inc. (NYSE:C)

Great Lakes Advisors LLC trimmed its position in Citigroup Inc. (NYSE:C) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 963,075 shares of the company’s stock after selling 9,944 shares during the quarter. Great Lakes Advisors LLC’s holdings in Citigroup were worth $67,791,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in C. Swedbank AB increased its stake in Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after acquiring an additional 54,782 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Citigroup by 4.0% during the third quarter. Sigma Planning Corp now owns 16,987 shares of the company’s stock worth $1,063,000 after buying an additional 656 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Citigroup during the third quarter worth $75,000. Catalytic Wealth RIA LLC grew its stake in shares of Citigroup by 14.4% during the third quarter. Catalytic Wealth RIA LLC now owns 8,769 shares of the company’s stock worth $549,000 after buying an additional 1,103 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Citigroup by 9.3% during the third quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock worth $128,000 after buying an additional 175 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on C. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Morgan Stanley boosted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note 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 has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $67.56 on Wednesday. The firm’s 50-day moving average price is $77.78 and its 200-day moving average price is $69.87. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The firm has a market capitalization of $127.32 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

Citigroup Announces Dividend

The firm also recently announced 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. This represents a $2.24 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Citigroup declared that its board has authorized a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 over the last three months. Corporate insiders own 0.08% of the company’s stock.

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.