Citigroup Inc. (NYSE:C) Position Boosted by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,305,083 shares of the company’s stock after purchasing an additional 26,463 shares during the period. Citigroup comprises about 2.2% of Donald Smith & CO. Inc.’s portfolio, making the stock its 18th largest holding. Donald Smith & CO. Inc. owned approximately 0.07% of Citigroup worth $91,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Martingale Asset Management L P acquired a new stake in Citigroup during the third quarter valued at $316,000. Benjamin Edwards Inc. grew its position in Citigroup by 1,188.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,561 shares of the company’s stock worth $724,000 after acquiring an additional 10,664 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Citigroup during the third quarter valued at approximately $1,270,000. Hilltop Holdings Inc. increased its stake in Citigroup by 43.2% in the third quarter. Hilltop Holdings Inc. now owns 26,632 shares of the company’s stock valued at $1,667,000 after purchasing an additional 8,029 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after acquiring an additional 8,301 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on C. Morgan Stanley decreased their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.86.

Citigroup Trading Up 1.8 %

Shares of C stock opened at $71.81 on Thursday. The firm has a 50-day moving average price of $76.46 and a 200 day moving average price of $71.01. 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 Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market capitalization of $135.16 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.64 and a beta of 1.43.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued 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 yield of 3.12%. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its board has approved a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Citigroup

In other 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was 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 of the company’s stock, 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 sold 103,590 shares of company stock valued at $8,523,149 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.