Kazazian Asset Management LLC Acquires Shares of 289,664 Citigroup Inc. (NYSE:C)

Kazazian Asset Management LLC acquired a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 289,664 shares of the company’s stock, valued at approximately $20,389,000. Citigroup accounts for about 15.6% of Kazazian Asset Management LLC’s holdings, making the stock its 2nd largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Generali Investments Management Co LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $3,214,000. Investment House LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $1,997,000. Harvest Fund Management Co. Ltd boosted its position in shares of Citigroup by 385.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,662 shares of the company’s stock valued at $680,000 after acquiring an additional 7,673 shares during the period. Vinva Investment Management Ltd boosted its position in shares of Citigroup by 29.2% in the fourth quarter. Vinva Investment Management Ltd now owns 118,220 shares of the company’s stock valued at $8,322,000 after acquiring an additional 26,725 shares during the period. Finally, Stokes Family Office LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $243,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI boosted their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley cut their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 0.4 %

Shares of NYSE C opened at $70.24 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $132.37 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock has a 50-day moving average price of $77.51 and a two-hundred day moving average price of $70.11.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

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

Insider Activity

In other news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last quarter. 0.08% of the stock is owned by company insiders.

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.