Citigroup Inc. (NYSE:C) COO Sells $2,433,000.00 in Stock

Citigroup Inc. (NYSE:C - Get Free Report) COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Citigroup Stock Down 2.1 %

Shares of C traded down $1.70 during midday trading on Friday, hitting $79.65. 14,736,792 shares of the company's stock traded hands, compared to its average volume of 15,621,527. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm's fifty day moving average is $76.63 and its 200-day moving average is $68.32. 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 has a market capitalization of $150.63 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.44.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. Citigroup's dividend payout ratio is presently 37.65%.

Institutional Trading of Citigroup

Hedge funds and other institutional investors have recently made changes to their positions in the business. Core Alternative Capital increased its position 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 acquiring an additional 171 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at $28,000. Orion Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at $31,000. Finally, Webster Bank N. A. increased its position 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 acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on C shares. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Piper Sandler reissued an "overweight" rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.93.

Citigroup Company Profile

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.