Meiji Yasuda Life Insurance Co significantly increased its stake in Citigroup Inc. (NYSE:C) by 20.3% during the fourth quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor now owns 39,274 shares of the company’s stock, valued at $2,764,000 at the end of the reporting period.
Other institutional investors have also been actively buying and selling Citigroup shares. Core Alternative Capital raised its holdings by 83.4%, while Webster Bank N.A. increased its stake by 150%. New positions were established by Creative Capital Management Investments LLC and Sierra Ocean LLC, with investments valued at approximately $35,000 and $37,000, respectively.
Citigroup’s stock performance has been notable, with a current market cap of $128.29 billion and a P/E ratio of 11.46. The company recently reported quarterly earnings of $1.96 EPS, surpassing analyst estimates. A share buyback program worth $20 billion was also announced, indicating potential undervaluation.
Recent Analyst Ratings
Several brokerages have recently commented on Citigroup’s stock. Oppenheimer upgraded its price target from $91 to $94, maintaining an ‘outperform’ rating. Bank of America adjusted its target price to $89, keeping a ‘buy’ rating. The consensus among analysts is a ‘Moderate Buy’ with a target price of $84.04.
Insider Activity
Insider transactions have shown some selling activity, with CFO Mark Mason selling 58,465 shares for $4,864,872.65. Other insiders, including Sara Wechter, have also sold shares, totaling 103,590 shares valued at $8,523,149 in the last three months.
The financial services company operates globally, providing various financial products and services. With a dividend yield of 3.29% and a payout ratio of 35.39%, Citigroup remains a significant player in the financial sector.
