Focus Partners Wealth Has $20.55 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Focus Partners Wealth grew its holdings in Citigroup Inc. (NYSE:C) by 301.3% during the fourth quarter, Holdings Channel reports. The firm owned 285,860 shares of the company’s stock after acquiring an additional 214,623 shares during the quarter. Focus Partners Wealth’s holdings in Citigroup were worth $20,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellevest Inc. bought a new stake in Citigroup in the 4th quarter valued at about $273,000. Ethic Inc. increased its position in Citigroup by 23.1% in the 4th quarter. Ethic Inc. now owns 124,345 shares of the company’s stock valued at $8,753,000 after buying an additional 23,303 shares in the last quarter. Fiduciary Trust Co increased its position in Citigroup by 32.1% in the 4th quarter. Fiduciary Trust Co now owns 14,923 shares of the company’s stock valued at $1,050,000 after buying an additional 3,628 shares in the last quarter. FJ Capital Management LLC bought a new stake in Citigroup in the 4th quarter valued at about $4,583,000. Finally, Fred Alger Management LLC bought a new stake in Citigroup in the 4th quarter valued at about $15,439,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated 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 owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the firm’s 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 sale, the director now owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,007 shares of company stock worth $8,824,653 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C opened at $71.39 on Monday. The stock has a fifty day simple moving average of $67.56 and a two-hundred day simple moving average of $71.57. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The firm has a market cap of $134.37 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share 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 business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its board has authorized a share buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 3.14%. Citigroup’s dividend payout ratio is currently 35.39%.

Wall Street Analyst Weigh In

A number of analysts recently commented on C shares. The Goldman Sachs Group decreased their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Oppenheimer boosted their price objective on Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, 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. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.04.

Citigroup Company 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.