Envestnet Portfolio Solutions Inc. Purchases 6,340 Shares of Citigroup Inc. (NYSE:C)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Citigroup Inc. (NYSE:C) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,215 shares of the company’s stock after acquiring an additional 6,340 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Citigroup were worth $5,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Swedbank AB boosted its holdings in Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Citigroup during the fourth quarter valued at approximately $198,231,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Citigroup by 70.0% during the third 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 purchasing an additional 1,865,628 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Citigroup by 32.2% in the 4th 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. 71.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated 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 sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’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 completion of the transaction, the chief operating officer now 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 disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of Citigroup stock opened at $70.24 on Wednesday. The company has a market capitalization of $132.37 billion, a PE ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s fifty day simple moving average is $77.51 and its 200 day simple moving average is $70.11.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Morgan Stanley decreased their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.