Edgestream Partners L.P. Invests $3.42 Million in Citigroup Inc. (NYSE:C)

Edgestream Partners L.P. bought a new stake in Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 48,629 shares of the company’s stock, valued at approximately $3,423,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Citigroup by 3.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after purchasing an additional 137 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Citigroup by 49.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 53,206 shares of the company’s stock worth $3,745,000 after buying an additional 17,616 shares during the period. Strategic Family Wealth Counselors L.L.C. acquired a new position in Citigroup in the 4th quarter valued at about $208,000. Callan Family Office LLC bought a new position in Citigroup in the 4th quarter valued at about $897,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Citigroup during the fourth quarter worth approximately $323,000. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In related news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were 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 owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on C shares. Bank of America upped their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE:C opened at $70.55 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The firm has a market cap of $132.94 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The firm’s fifty day moving average is $77.90 and its 200-day moving average is $69.72.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side 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 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 generally an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.18%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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.