Polar Capital Holdings Plc Purchases 120,701 Shares of Citigroup Inc. (NYSE:C)

Polar Capital Holdings Plc lifted its position in Citigroup Inc. (NYSE:C) by 89.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 255,085 shares of the company’s stock after purchasing an additional 120,701 shares during the quarter. Polar Capital Holdings Plc’s holdings in Citigroup were worth $17,955,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. ProShare Advisors LLC grew its holdings in Citigroup by 10.5% during the 4th quarter. ProShare Advisors LLC now owns 405,270 shares of the company’s stock worth $28,527,000 after acquiring an additional 38,596 shares during the last quarter. Quadcap Wealth Management LLC grew its holdings in Citigroup by 5.0% during the 4th quarter. Quadcap Wealth Management LLC now owns 14,637 shares of the company’s stock worth $1,030,000 after acquiring an additional 696 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Citigroup by 25.2% during the 4th quarter. Quantinno Capital Management LP now owns 281,115 shares of the company’s stock worth $19,788,000 after acquiring an additional 56,666 shares during the last quarter. Pathstone Holdings LLC grew its holdings in Citigroup by 7.8% during the 4th quarter. Pathstone Holdings LLC now owns 161,489 shares of the company’s stock worth $11,370,000 after acquiring an additional 11,747 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in Citigroup during the 4th quarter worth about $2,205,000. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $75.87 on Friday. 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 capitalization of $141.70 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company’s 50 day moving average price is $67.96 and its two-hundred day moving average price is $71.80. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last announced 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 firm had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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 issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.95%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Analysts Set New Price Targets

C has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Bank of America reduced their target price 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. Finally, Morgan Stanley reduced their target price 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.97.

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.