Point72 Asia Singapore Pte. Ltd. Increases Stock Holdings in Citigroup Inc. (NYSE:C)

Point72 Asia Singapore Pte. Ltd. boosted its stake in Citigroup Inc. (NYSE:C) by 257.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,444 shares of the company’s stock after buying an additional 37,759 shares during the quarter. Citigroup makes up 1.0% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 17th largest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in Citigroup were worth $3,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Core Alternative Capital boosted its holdings in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the last quarter. Webster Bank N. A. boosted its stake in 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 acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $35,000. Sierra Ocean LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Citigroup during the 4th quarter worth approximately $39,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 0.5%

Shares of Citigroup stock opened at $75.22 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a market cap of $141.58 billion, a PE ratio of 12.64, a PEG ratio of 0.64 and a beta of 1.30. The company has a 50 day simple moving average of $67.79 and a two-hundred day simple moving average of $71.72.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.98%. Citigroup’s dividend payout ratio is 35.39%.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

C has been the topic of several research reports. Evercore ISI lowered their target price 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. Oppenheimer lifted their target price on shares of Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Bank of America cut their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group cut their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, Truist Financial decreased their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.04.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s 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. The trade was a 21.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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.