Illinois Municipal Retirement Fund Has $12.99 Million Holdings in Citigroup Inc. (NYSE:C)

Illinois Municipal Retirement Fund boosted its stake in shares of Citigroup Inc. (NYSE:C) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,527 shares of the company’s stock after purchasing an additional 31,883 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Citigroup were worth $12,989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Core Alternative Capital increased its holdings in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter valued at $31,000. Webster Bank N. A. increased its holdings in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the 4th quarter worth about $35,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $78.15 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. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a market cap of $147.80 billion, a PE ratio of 13.13, a PEG ratio of 0.64 and a beta of 1.44. The company’s 50-day moving average is $77.08 and its two-hundred day moving average is $68.94.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $19.51 billion. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.87%. Citigroup’s dividend payout ratio is 37.65%.

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

Analyst Ratings Changes

Several research firms have recently weighed in on C. Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the 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 sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last ninety days. Company 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.