Kovack Advisors Inc. Boosts Stake in Citigroup Inc. (NYSE:C)

Kovack Advisors Inc. lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 25.6% during the fourth quarter, Holdings Channel reports. The fund owned 6,609 shares of the company’s stock after purchasing an additional 1,345 shares during the quarter. Kovack Advisors Inc.’s holdings in Citigroup were worth $465,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. AMF Tjanstepension AB purchased a new stake in Citigroup during the 3rd quarter worth approximately $4,607,000. Swedbank AB boosted its stake in shares of Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after buying an additional 54,782 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Citigroup by 75.8% during the 3rd quarter. JFS Wealth Advisors LLC now owns 4,060 shares of the company’s stock valued at $254,000 after buying an additional 1,751 shares during the last quarter. Goldstone Financial Group LLC purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $398,000. Finally, Catalyst Financial Partners LLC boosted its stake in shares of Citigroup by 6.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,697 shares of the company’s stock valued at $294,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 value of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several research analyst reports. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Evercore ISI increased their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $79.78 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The business’s fifty day moving average price is $77.72 and its two-hundred day moving average price is $69.23. The firm has a market capitalization of $150.89 billion, a PE ratio of 13.41, a P/E/G ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last issued its 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 firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated a stock buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.81%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

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.