Summit Securities Group LLC Has $1.63 Million Stock Position in Citigroup Inc. (NYSE:C)

Summit Securities Group LLC boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 291.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,100 shares of the company's stock after purchasing an additional 17,200 shares during the quarter. Citigroup makes up 0.3% of Summit Securities Group LLC's portfolio, making the stock its 29th biggest holding. Summit Securities Group LLC's holdings in Citigroup were worth $1,626,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in C. Glenmede Trust Co. NA increased its holdings in shares of Citigroup by 8.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 192,927 shares of the company's stock worth $12,077,000 after buying an additional 14,858 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Citigroup by 216.3% during the third quarter. CreativeOne Wealth LLC now owns 11,986 shares of the company's stock worth $750,000 after acquiring an additional 8,197 shares during the last quarter. Financial Counselors Inc. raised its holdings in shares of Citigroup by 11.3% in the 3rd quarter. Financial Counselors Inc. now owns 3,668 shares of the company's stock worth $230,000 after purchasing an additional 372 shares during the period. Martingale Asset Management L P acquired a new position in shares of Citigroup in the 3rd quarter valued at about $316,000. Finally, Atlantic Union Bankshares Corp grew its holdings in shares of Citigroup by 15.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 34,598 shares of the company's stock worth $2,166,000 after purchasing an additional 4,630 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

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Citigroup Stock Performance

Shares of NYSE:C traded down $7.05 on Thursday, reaching $64.71. 20,895,580 shares of the company's stock were exchanged, compared to its average volume of 15,830,840. The business's 50-day moving average is $76.46 and its two-hundred day moving average is $71.01. 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 Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm has a market capitalization of $121.79 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C - Get Free Report) last issued its 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. The firm 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 was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup's dividend payout ratio is presently 37.65%.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on C shares. Bank of America decreased their price objective on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a research note on Thursday, January 16th. Finally, Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price objective for the company. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.30.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer now owns 229,180 shares of the company's stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by company insiders.

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.