Cetera Investment Advisers Has $26.58 Million Stake in Citigroup Inc. (NYSE:C)

Cetera Investment Advisers grew its holdings in Citigroup Inc. (NYSE:C) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 377,644 shares of the company’s stock after buying an additional 13,230 shares during the quarter. Cetera Investment Advisers’ holdings in Citigroup were worth $26,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Core Alternative Capital increased its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the period. Webster Bank N. A. boosted its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth approximately $35,000. Sierra Ocean LLC bought a new stake in shares of Citigroup during the fourth quarter worth approximately $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Citigroup in the fourth quarter valued at approximately $39,000. 71.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares of the company’s stock, valued at $890,656.48. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated 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 owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,007 shares of company stock valued at $8,824,653 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on C shares. Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada dropped their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Bank of America reduced their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.04.

Citigroup Stock Performance

C opened at $71.61 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $134.78 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.64 and a beta of 1.30. The business’s 50-day moving average price is $67.57 and its two-hundred day moving average price is $71.40. 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 Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

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.