Teacher Retirement System of Texas Acquires 338,602 Shares of Citigroup Inc. (NYSE:C)

Teacher Retirement System of Texas raised its holdings in Citigroup Inc. (NYSE:C - Free Report) by 88.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 721,835 shares of the company's stock after acquiring an additional 338,602 shares during the quarter. Teacher Retirement System of Texas' holdings in Citigroup were worth $50,810,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Brookstone Capital Management boosted its holdings in shares of Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company's stock worth $2,536,000 after buying an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. raised its position in Citigroup by 34.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company's stock valued at $4,852,000 after buying an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company's stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company's stock worth $22,236,000 after buying an additional 8,301 shares in the last quarter. Finally, Candriam S.C.A. lifted its holdings in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock worth $14,139,000 after acquiring an additional 22,657 shares during the period. 71.72% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price for the company. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Piper Sandler restated an "overweight" rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. 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, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.53.

Citigroup Stock Up 0.5 %

C traded up $0.39 during midday trading on Tuesday, reaching $74.43. The company's stock had a trading volume of 10,917,979 shares, compared to its average volume of 13,304,832. The stock's 50-day moving average is $77.48 and its 200-day moving average is $70.42. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a market capitalization of $140.26 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.64 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm's quarterly revenue 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. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Monday, February 3rd. Citigroup's dividend payout ratio is presently 37.65%.

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

Insider Transactions at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % 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 in the last quarter. 0.08% of the stock is owned by 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.