Commerzbank Aktiengesellschaft FI Acquires 3,668 Shares of Citigroup Inc. (NYSE:C)

Commerzbank Aktiengesellschaft FI increased its holdings in Citigroup Inc. (NYSE:C) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,141 shares of the company’s stock after acquiring an additional 3,668 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Citigroup were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Core Alternative Capital increased its stake in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Citigroup during the 3rd quarter valued at about $31,000. Webster Bank N. A. boosted its holdings in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $37,000. 71.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were 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 filing with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 over the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on C. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

NYSE C opened at $72.25 on Wednesday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock has a market cap of $136.16 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.64 and a beta of 1.44. The company’s 50 day moving average is $77.89 and its two-hundred day moving average is $69.57. 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 released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the business earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its board has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

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.