Sava Infond d.o.o. Makes New $246,000 Investment in Citigroup Inc. (NYSE:C)

Sava Infond d.o.o. bought a new stake in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,500 shares of the company’s stock, valued at approximately $246,000.

Several other large investors also recently modified their holdings of the stock. Core Alternative Capital lifted its holdings in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the third quarter valued at approximately $31,000. Webster Bank N. A. lifted its stake in shares of 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 buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in Citigroup in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in Citigroup during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $71.90 on Friday. The stock has a market capitalization of $135.32 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a fifty day moving average of $77.26 and a 200-day moving average of $70.56. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.12%. Citigroup’s payout ratio is currently 37.65%.

Insider Activity

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. The Goldman Sachs Group lowered their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Evercore ISI raised their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.53.

Citigroup 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.