Advisors Asset Management Inc. Acquires 287 Shares of Citigroup Inc. (NYSE:C)

Advisors Asset Management Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,159 shares of the company’s stock after acquiring an additional 287 shares during the period. Advisors Asset Management Inc.’s holdings in Citigroup were worth $4,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of 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. lifted its holdings in shares of 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 increased its position in shares of Citigroup by 3.6% in the fourth quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock valued at $2,112,698,000 after acquiring an additional 1,043,826 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of 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 acquiring an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 acquiring an additional 240,628 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on C shares. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lowered their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.53.

Citigroup Trading Up 0.5 %

Shares of NYSE:C opened at $71.80 on Friday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The stock has a market cap of $135.31 billion, a PE ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.43. The business has a 50 day moving average of $77.45 and a 200-day moving average of $70.13. 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 issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company 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 business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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

Insider Activity at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % 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, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction 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 sale, 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. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup 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.