Daiwa Securities Group Inc. Boosts Holdings in Citigroup Inc. (NYSE:C)

Daiwa Securities Group Inc. lifted its stake in Citigroup Inc. (NYSE:C) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,471 shares of the company’s stock after purchasing an additional 50,363 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Citigroup were worth $20,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of C. Sound View Wealth Advisors Group LLC lifted its stake in Citigroup by 10.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 7,662 shares of the company’s stock valued at $539,000 after acquiring an additional 705 shares during the period. Ruffer LLP lifted its stake in shares of Citigroup by 4.3% in the 4th quarter. Ruffer LLP now owns 3,501,834 shares of the company’s stock worth $246,497,000 after purchasing an additional 145,767 shares during the period. Jackson Hole Capital Partners LLC lifted its stake in shares of Citigroup by 1.4% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 63,705 shares of the company’s stock worth $4,484,000 after purchasing an additional 875 shares during the period. OFI Invest Asset Management purchased a new stake in Citigroup in the 4th quarter worth approximately $69,000. Finally, Blake Schutter Theil Wealth Advisors LLC increased its holdings in Citigroup by 1.6% in the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity 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 transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup 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 completion of the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Down 4.6 %

Shares of C opened at $67.22 on Tuesday. The company has a market cap of $126.67 billion, a PE ratio of 11.30, a P/E/G ratio of 0.64 and a beta of 1.43. The business has a fifty day moving average of $77.84 and a 200 day moving average of $69.83. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated 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 buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.33%. Citigroup’s payout ratio is currently 37.65%.

Analyst Ratings Changes

C has been the subject of several analyst reports. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley increased their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.