Handelsbanken Fonder AB Has $48.89 Million Position in Citigroup Inc. (NYSE:C)

Handelsbanken Fonder AB raised its holdings in shares of Citigroup Inc. (NYSE:C) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 694,493 shares of the company’s stock after purchasing an additional 61,152 shares during the quarter. Handelsbanken Fonder AB’s holdings in Citigroup were worth $48,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hemington Wealth Management increased its stake in shares of Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after purchasing an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares in the last quarter. Avitas Wealth Management LLC increased its position in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after buying an additional 143 shares during the period. NTV Asset Management LLC increased its position in Citigroup by 2.5% during the 4th quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock worth $429,000 after buying an additional 148 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its holdings in shares of Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after buying an additional 150 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Activity

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the firm’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 transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $83.94 on Thursday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month 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. The stock’s 50-day simple moving average is $76.43 and its 200 day simple moving average is $68.23. The firm has a market capitalization of $158.74 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

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

Citigroup announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.67%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on C shares. Evercore ISI raised their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. 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. Oppenheimer reduced their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Four 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.