Syon Capital LLC Invests $595,000 in Citigroup Inc. (NYSE:C)

by · The Markets Daily

Syon Capital LLC purchased a new stake in Citigroup Inc. (NYSE:C – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,459 shares of the company’s stock, valued at approximately $595,000.

Several other large investors have also made changes to their positions in C. Blake Schutter Theil Wealth Advisors LLC boosted its stake in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after acquiring an additional 135 shares in the last quarter. Hemington Wealth Management lifted its holdings in Citigroup by 10.9% in the 4th 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 last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Citigroup by 3.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after purchasing an additional 137 shares during the period. Rakuten Securities Inc. grew its holdings in Citigroup by 2.4% during the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after purchasing an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $68.16 on Friday. The company has a market capitalization of $128.29 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.64 and a beta of 1.29. The company has a 50-day moving average of $69.70 and a 200-day moving average of $71.01. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 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 firm had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Citigroup announced that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on C shares. Morgan Stanley lowered 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price target (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Finally, Bank of America cut their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $84.61.

Check Out Our Latest Research Report on C

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Profile

(Free Report)

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.

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