Sequoia Financial Advisors LLC Acquires 50,565 Shares of Citigroup Inc. (NYSE:C)

Sequoia Financial Advisors LLC increased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 24.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,011 shares of the company's stock after purchasing an additional 50,565 shares during the period. Sequoia Financial Advisors LLC's holdings in Citigroup were worth $18,091,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Blake Schutter Theil Wealth Advisors LLC boosted its stake in Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company's stock valued at $608,000 after purchasing an additional 135 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company's stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock worth $289,000 after buying an additional 137 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock valued at $592,000 after acquiring an additional 140 shares during the period. Finally, Avitas Wealth Management LLC raised its holdings in shares of Citigroup by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company's stock valued at $1,612,000 after purchasing an additional 143 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm's stock in a transaction dated 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 owns 229,180 shares of the company's stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 in the last three months. 0.08% of the stock is owned by company insiders.

Citigroup Stock Performance

Shares of NYSE C opened at $67.56 on Wednesday. The stock has a market cap of $127.32 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a fifty day moving average price of $77.78 and a 200-day moving average price of $69.87. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

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

Citigroup declared that its board has approved a share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.32%. Citigroup's dividend payout ratio is presently 37.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a report on Thursday, January 16th. Piper Sandler restated an "overweight" rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They set a "buy" rating and a $85.00 price objective for the company. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Finally, Bank of America boosted their price target on Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

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.

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