Citigroup Inc. (NYSE:C) is Oppenheimer Asset Management Inc.’s 10th Largest Position

Oppenheimer Asset Management Inc. grew its position in Citigroup Inc. (NYSE:C) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,374,304 shares of the company’s stock after purchasing an additional 72,906 shares during the period. Citigroup comprises about 1.2% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 10th largest position. Oppenheimer Asset Management Inc. owned about 0.07% of Citigroup worth $96,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kovack Advisors Inc. increased its holdings in Citigroup by 25.6% during the fourth quarter. Kovack Advisors Inc. now owns 6,609 shares of the company’s stock worth $465,000 after buying an additional 1,345 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Citigroup by 22.7% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 15,128 shares of the company’s stock worth $1,065,000 after purchasing an additional 2,800 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Citigroup by 0.8% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 415,600 shares of the company’s stock worth $29,254,000 after purchasing an additional 3,500 shares during the period. Apriem Advisors bought a new position in Citigroup during the fourth quarter worth about $215,000. Finally, Lineweaver Wealth Advisors LLC boosted its position in Citigroup by 5.6% during the fourth quarter. Lineweaver Wealth Advisors LLC now owns 32,131 shares of the company’s stock worth $2,262,000 after purchasing an additional 1,702 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $79.00 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $149.41 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.64 and a beta of 1.44. The firm’s 50-day moving average is $77.30 and its 200 day moving average is $69.01. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’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 business earned $0.84 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Activity

In related news, 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 value of $1,225,276.25. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 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 in the last quarter. 0.08% of the stock is currently owned by insiders.

About Citigroup

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.