Groupama Asset Managment Increases Holdings in Citigroup Inc. (NYSE:C)

Groupama Asset Managment grew its holdings in Citigroup Inc. (NYSE:C) by 50.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 381,530 shares of the company’s stock after acquiring an additional 128,518 shares during the quarter. Groupama Asset Managment’s holdings in Citigroup were worth $26,856,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Core Alternative Capital increased its position in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Citigroup in the third quarter valued at $31,000. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup during the fourth quarter worth about $35,000. Webster Bank N. A. raised its stake in 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. Finally, Sierra Ocean LLC acquired a new stake in Citigroup during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.1 %

Shares of NYSE:C opened at $71.08 on Tuesday. The company has a market capitalization of $133.78 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a 50 day moving average of $76.88 and a two-hundred day moving average of $70.91. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

C has been the subject of several analyst reports. Bank of America upped their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group reduced their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Evercore ISI increased their price target 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. Morgan Stanley dropped their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Insider Activity at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction 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. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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.