Kestra Investment Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Kestra Investment Management LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,553 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds also recently modified their holdings of the company. Brookstone Capital Management lifted its stake in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. increased its holdings in shares of Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after buying an additional 20,000 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in shares of Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after acquiring an additional 20,291 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Anand Selvakesari sold 30,000 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup 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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last quarter. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Down 3.1 %

NYSE:C opened at $81.32 on Friday. The company has a market capitalization of $153.79 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.67 and a beta of 1.44. The stock’s 50 day moving average price is $76.63 and its 200 day moving average price is $68.32. 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.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping 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 company 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 posted $0.84 EPS. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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.