Horizon Investments LLC Has $2.44 Million Position in Citigroup Inc. (NYSE:C)

Horizon Investments LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,932 shares of the company’s stock after acquiring an additional 652 shares during the quarter. Horizon Investments LLC’s holdings in Citigroup were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Core Alternative Capital boosted its stake in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the 3rd quarter valued at $31,000. Webster Bank N. A. boosted its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction 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. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $70.24 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s fifty day simple moving average is $77.51 and its two-hundred day simple moving average is $70.11. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The stock has a market cap of $132.37 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI upped 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. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

About Citigroup

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.