Boothbay Fund Management LLC Has $9.84 Million Stake in Citigroup Inc. (NYSE:C)

Boothbay Fund Management LLC lifted its position in shares of Citigroup Inc. (NYSE:C) by 170.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,840 shares of the company’s stock after buying an additional 88,126 shares during the quarter. Boothbay Fund Management LLC’s holdings in Citigroup were worth $9,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Citigroup in the 4th quarter valued at about $1,935,599,000. Capital World Investors grew its stake in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. FMR LLC grew its stake in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. Franklin Resources Inc. increased 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 in the last quarter. Finally, Swedbank AB raised its position in shares of Citigroup by 90.2% during the fourth 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 during the period. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Evercore ISI decreased their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Piper Sandler restated an “overweight” rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.61.

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 value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the 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 owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $68.47 on Friday. The stock has a market cap of $128.88 billion, a P/E ratio of 11.51, a PEG ratio of 0.64 and a beta of 1.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s 50-day moving average price is $69.38 and its two-hundred day moving average price is $71.05. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.27%. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

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.