Citigroup Inc. (NYSE:C) Position Increased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Citigroup Inc. (NYSE:C) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 596,254 shares of the company’s stock after buying an additional 74,470 shares during the period. Citigroup makes up about 1.2% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 17th largest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Citigroup were worth $41,985,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Swedbank AB grew its position in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Citigroup in the fourth quarter valued at $198,231,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after buying an additional 1,731,527 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $70.24 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a fifty day simple moving average of $77.51 and a 200-day simple moving average of $70.11. The stock 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. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74.

Citigroup (NYSE:C) last released its 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Insider Transactions at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Morgan Stanley lowered their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.