Meeder Advisory Services Inc. Buys 984 Shares of Citigroup Inc. (NYSE:C)

Meeder Advisory Services Inc. grew its position in Citigroup Inc. (NYSE:C) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,226 shares of the company’s stock after acquiring an additional 984 shares during the period. Meeder Advisory Services Inc.’s holdings in Citigroup were worth $2,691,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of C. Blake Schutter Theil Wealth Advisors LLC grew its position in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after acquiring an additional 135 shares during the period. Hemington Wealth Management lifted its stake in Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Citigroup by 2.4% during the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after purchasing an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $70.48 on Wednesday. The company has a market capitalization of $132.66 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.64 and a beta of 1.43. The business has a 50 day moving average of $76.66 and a 200 day moving average of $71.00. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the business posted $0.84 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. StockNews.com cut Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group lowered their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.29.

Insider Activity

In other news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction 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 completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

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.