Raymond James Financial Inc. Takes Position in Citigroup Inc. (NYSE:C)

Raymond James Financial Inc. bought a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,816,176 shares of the company’s stock, valued at approximately $198,231,000. Raymond James Financial Inc. owned approximately 0.15% of Citigroup at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Alternative Capital lifted its position in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Citigroup during the third quarter worth approximately $31,000. Webster Bank N. A. lifted its position in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in Citigroup during the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Citigroup during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.0 %

Shares of NYSE C opened at $70.55 on Friday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a market capitalization of $132.94 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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 firm’s 50-day moving average is $77.91 and its two-hundred day moving average is $69.60.

Citigroup (NYSE:C) last announced its quarterly 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

C has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI lifted their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Finally, 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. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the company’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 transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % 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 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.