Kovitz Investment Group Partners LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 68.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,535 shares of the company's stock after selling 215,496 shares during the period. Kovitz Investment Group Partners LLC's holdings in Citigroup were worth $6,936,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of C. Core Alternative Capital lifted its holdings in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after buying an additional 171 shares during the period. Webster Bank N. A. lifted its stake 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 purchasing an additional 300 shares during the period. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup in the 4th quarter valued at approximately $35,000. Sierra Ocean LLC purchased a new stake in Citigroup in the fourth quarter worth $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Citigroup in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 71.72% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Finally, Bank of America dropped their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.61.
Read Our Latest Stock Report on C
Citigroup Stock Performance
Shares of NYSE C opened at $68.47 on Friday. The company has a market cap of $128.88 billion, a PE ratio of 11.51, a PEG ratio of 0.64 and a beta of 1.29. The firm's 50-day moving average price is $69.38 and its 200-day moving average price is $71.10. Citigroup Inc. has a 52-week low of $53.51 and a 52-week 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.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The firm 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%. As a group, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.
Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
Citigroup Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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 of this dividend is Monday, May 5th. Citigroup's payout ratio is 35.39%.
Insider Buying and Selling at Citigroup
In other news, 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 transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. This represents a 12.11 % 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 valued at $8,523,149. Insiders own 0.08% of the company's stock.
About Citigroup
(
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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