Kornitzer Capital Management Inc. KS Has $4.03 Million Stock Position in Citigroup Inc. (NYSE:C)

Kornitzer Capital Management Inc. KS grew its position in shares of Citigroup Inc. (NYSE:C) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,307 shares of the company’s stock after acquiring an additional 3,233 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Citigroup were worth $4,034,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of C. Core Alternative Capital boosted its holdings in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the 3rd quarter valued at approximately $31,000. Webster Bank N. A. boosted its holdings 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 buying an additional 300 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.0 %

Shares of NYSE C opened at $84.59 on Wednesday. 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 stock has a market capitalization of $159.99 billion, a P/E ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. The stock’s fifty day moving average is $76.19 and its 200 day moving average is $68.12.

Citigroup (NYSE:C) last released 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. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has approved a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on C. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company increased their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated 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 directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

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.