Trivest Advisors Ltd Takes $12.32 Million Position in Citigroup Inc. (NYSE:C)

Trivest Advisors Ltd acquired a new stake in Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 175,000 shares of the company’s stock, valued at approximately $12,318,000.

A number of other large investors have also bought and sold shares of the business. 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. raised its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Citigroup by 3.6% in the 4th 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 in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $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 grew its stake in shares of Citigroup by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after acquiring an additional 240,628 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Citigroup stock opened at $70.24 on Wednesday. The company has a market capitalization of $132.37 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43. The stock’s 50 day moving average is $77.51 and its 200-day moving average is $70.11. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The firm had revenue of $19.58 billion for 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the business’s 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 directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on C shares. Keefe, Bruyette & Woods boosted their price objective 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. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company 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 objective 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 data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company 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.