First Financial Bankshares Inc Sells 10,643 Shares of Citigroup Inc. (NYSE:C)

First Financial Bankshares Inc cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,545 shares of the company's stock after selling 10,643 shares during the period. First Financial Bankshares Inc's holdings in Citigroup were worth $47,059,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Kazazian Asset Management LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at $20,389,000. Generali Investments Management Co LLC purchased a new stake in Citigroup in the 4th quarter worth about $3,214,000. Investment House LLC purchased a new stake in Citigroup in the 4th quarter worth about $1,997,000. Harvest Fund Management Co. Ltd increased its holdings in Citigroup by 385.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,662 shares of the company's stock worth $680,000 after acquiring an additional 7,673 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its holdings in Citigroup by 29.2% in the 4th quarter. Vinva Investment Management Ltd now owns 118,220 shares of the company's stock worth $8,322,000 after acquiring an additional 26,725 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of C stock traded up $0.11 during trading on Friday, hitting $71.93. The company had a trading volume of 21,720,996 shares, compared to its average volume of 13,298,404. 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 stock's 50-day moving average is $77.46 and its two-hundred day moving average is $70.26. The stock has a market capitalization of $135.56 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Remove Ads

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup's dividend payout ratio is currently 37.65%.

Citigroup declared that its board has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. Morgan Stanley decreased their price objective on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group reduced their target price on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday. Finally, StockNews.com upgraded Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $83.53.

Insiders Place Their Bets

In related news, COO Anand Selvakesari sold 30,000 shares of the firm's stock in a transaction on 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 sale, the chief operating officer now owns 229,180 shares of the company's stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Citigroup 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.