TT Capital Management LLC Invests $16.69 Million in Citigroup Inc. (NYSE:C)

TT Capital Management LLC purchased a new position in Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 213,622 shares of the company's stock, valued at approximately $16,693,000. Citigroup comprises approximately 13.3% of TT Capital Management LLC's holdings, making the stock its 3rd biggest position.

Several other institutional investors have also added to or reduced their stakes in C. BTG Pactual Asset Management US LLC raised its stake in Citigroup by 3.3% in the fourth quarter. BTG Pactual Asset Management US LLC now owns 25,625 shares of the company's stock valued at $1,816,000 after buying an additional 815 shares during the last quarter. Advisors Capital Management LLC raised its holdings in Citigroup by 1.4% in the 4th quarter. Advisors Capital Management LLC now owns 763,582 shares of the company's stock worth $53,749,000 after purchasing an additional 10,696 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in Citigroup in the 4th quarter valued at $887,000. Townsquare Capital LLC lifted its stake in Citigroup by 4.8% in the 4th quarter. Townsquare Capital LLC now owns 143,794 shares of the company's stock valued at $10,122,000 after buying an additional 6,527 shares in the last quarter. Finally, Philadelphia Trust Co. increased its position in shares of Citigroup by 11.0% during the fourth quarter. Philadelphia Trust Co. now owns 11,507 shares of the company's stock worth $810,000 after purchasing an additional 1,145 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated 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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

C has been the subject of a number of recent research reports. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Truist Financial lowered their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley reduced their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and an average target price of $84.61.

Citigroup Stock Up 1.8 %

Citigroup stock traded up $1.13 during trading hours on Thursday, hitting $63.23. The company had a trading volume of 14,653,830 shares, compared to its average volume of 14,417,152. The firm has a market capitalization of $119.01 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week 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 firm's fifty day moving average is $71.82 and its 200-day moving average is $70.91.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its board has initiated a share buyback plan 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 plans are generally a sign that the company's leadership believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup's dividend payout ratio is 37.65%.

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.