Envestnet Asset Management Inc. Has $225.98 Million Stock Position in Citigroup Inc. (NYSE:C)

Envestnet Asset Management Inc. increased its holdings in shares of Citigroup Inc. (NYSE:C) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,210,450 shares of the company’s stock after purchasing an additional 67,928 shares during the period. Envestnet Asset Management Inc.’s holdings in Citigroup were worth $225,984,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Core Alternative Capital increased its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Citigroup during the third quarter worth $31,000. Webster Bank N. A. increased its holdings in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $37,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Truist Financial dropped their target price on Citigroup from $85.00 to $84.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI lowered their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.23.

Citigroup Trading Down 8.0 %

NYSE C opened at $58.00 on Monday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The business’s fifty day moving average is $75.61 and its 200 day moving average is $71.11. 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 company has a market cap of $109.17 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 firm posted $0.84 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

Insider Buying and Selling

In other 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 value of $2,433,000.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last 90 days. 0.08% of the stock is owned by insiders.

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.