Kornitzer Capital Management Inc. KS Has $4.03 Million Stock Position in Citigroup Inc. (NYSE:C)

Kornitzer Capital Management Inc. KS boosted its holdings in Citigroup Inc. (NYSE:C) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,307 shares of the company’s stock after purchasing an additional 3,233 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Citigroup were worth $4,034,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in C. AMF Tjanstepension AB bought a new stake in Citigroup in the third quarter worth approximately $4,607,000. Swedbank AB increased its holdings in Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after purchasing an additional 54,782 shares in the last quarter. Vest Financial LLC bought a new stake in Citigroup in the third quarter worth approximately $489,000. Northwest Investment Counselors LLC bought a new stake in Citigroup in the third quarter worth approximately $28,000. Finally, Integrity Financial Corp WA increased its holdings in shares of Citigroup by 58.8% during the third quarter. Integrity Financial Corp WA now owns 8,105 shares of the company’s stock valued at $507,000 after acquiring an additional 3,000 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction on Friday, February 14th. The stock was 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 owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction 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 sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

NYSE C opened at $84.59 on Wednesday. The company has a market capitalization of $159.99 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. 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 business’s fifty day moving average is $76.19 and its 200 day moving average is $68.12. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

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

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.65%. Citigroup’s payout ratio is currently 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.