SVB Wealth LLC Purchases New Stake in Citigroup Inc. (NYSE:C)

SVB Wealth LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,181 shares of the company’s stock, valued at approximately $1,561,000.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. grew its stake in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC grew its stake in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Citigroup by 9.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Citigroup by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock valued at $670,021,000 after purchasing an additional 240,628 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the 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 completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $79.78 on Monday. The business has a 50 day moving average price of $77.72 and a 200 day moving average price of $69.38. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market cap of $150.35 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.64 and a beta of 1.44. 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 posted its quarterly 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 firm 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 company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Evercore ISI upped their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus 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.