Delta Financial Group Inc. Makes New $342,000 Investment in Citigroup Inc. (NYSE:C)

Delta Financial Group Inc. acquired a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,853 shares of the company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of C. Franklin Resources Inc. raised its holdings in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Swedbank AB increased its holdings in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Citigroup by 103.6% during the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after buying an additional 1,410,950 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, 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. In the last ninety days, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Performance

NYSE:C opened at $79.65 on Monday. The company has a market capitalization of $150.63 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.64 and a beta of 1.44. The business has a fifty day simple moving average of $76.80 and a two-hundred day simple moving average of $68.65. 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 posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.