Continental Advisors LLC cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,434 shares of the company's stock after selling 5,000 shares during the period. Citigroup accounts for about 2.6% of Continental Advisors LLC's portfolio, making the stock its 10th biggest position. Continental Advisors LLC's holdings in Citigroup were worth $5,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of C. Core Alternative Capital grew its position in 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 last quarter. Creative Capital Management Investments LLC purchased a new position in Citigroup in the 4th quarter worth about $35,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after buying an additional 300 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Citigroup in the 4th quarter valued at about $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Citigroup in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 71.72% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on C. 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. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Truist Financial decreased their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Bank of America cut their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.61.
Check Out Our Latest Research Report on C
Insider Transactions at Citigroup
In other news, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares of the company's stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the company's 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last three months. 0.08% of the stock is currently owned by insiders.
Citigroup Stock Performance
Shares of Citigroup stock traded up $0.31 during midday trading on Friday, hitting $68.47. The company had a trading volume of 12,248,567 shares, compared to its average volume of 14,426,578. The stock has a market cap of $128.88 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $69.70 and a 200 day simple moving average of $71.01.
Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, analysts predict 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. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio is presently 35.39%.
Citigroup announced that its board has approved a stock buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Citigroup Profile
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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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