Integrated Quantitative Investments LLC Takes Position in Citigroup Inc. (NYSE:C)

Integrated Quantitative Investments LLC acquired a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,900 shares of the company’s stock, valued at approximately $415,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Yoffe Investment Management LLC bought a new stake in Citigroup during the fourth quarter worth about $235,000. Donald Smith & CO. Inc. lifted its position in Citigroup by 2.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,305,083 shares of the company’s stock worth $91,865,000 after buying an additional 26,463 shares during the last quarter. Huber Capital Management LLC boosted its stake in Citigroup by 3.4% in the fourth quarter. Huber Capital Management LLC now owns 243,816 shares of the company’s stock worth $17,162,000 after buying an additional 8,000 shares in the last quarter. Pitcairn Co. grew its position in Citigroup by 8.8% during the fourth quarter. Pitcairn Co. now owns 53,035 shares of the company’s stock valued at $3,733,000 after acquiring an additional 4,298 shares during the last quarter. Finally, Spahn Wealth & Retirement LLC purchased a new position in shares of Citigroup during the fourth quarter worth approximately $3,969,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

C stock opened at $58.00 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a 50-day moving average of $75.61 and a 200 day moving average of $70.95. The company has a market cap of $109.17 billion, a P/E ratio of 9.75, a PEG ratio of 0.64 and a beta of 1.29.

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

Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Insider Transactions at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents 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 three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on C. Evercore ISI decreased their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial reduced their price target on Citigroup from $85.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Finally, The Goldman Sachs Group cut their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.23.

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.