Citigroup Inc. (NYSE:C) Position Increased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Citigroup Inc. (NYSE:C) by 26.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,686 shares of the company’s stock after buying an additional 271,093 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Citigroup worth $91,766,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Core Alternative Capital increased its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. grew its position in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new position in Citigroup during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Up 3.0 %

Citigroup stock opened at $74.12 on Tuesday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month 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. The stock has a market cap of $139.67 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.64 and a beta of 1.43. The company’s fifty day simple moving average is $77.48 and its 200-day simple moving average is $70.42.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.02%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its board has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report 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. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $83.53.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction 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 sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. Company 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.