GKV Capital Management Co. Inc. Invests $70,000 in Citigroup Inc. (NYSE:C)

GKV Capital Management Co. Inc. acquired a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,000 shares of the company’s stock, valued at approximately $70,000.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.61.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. 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 three months. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Up 1.8 %

Shares of NYSE:C opened at $63.23 on Friday. The firm has a 50 day simple moving average of $71.47 and a 200 day simple moving average of $70.91. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $119.01 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.54%. Citigroup’s dividend payout ratio is 37.65%.

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

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.