Texas Capital Bank Wealth Management Services Inc Invests $935,000 in Citigroup Inc. (NYSE:C)

Texas Capital Bank Wealth Management Services Inc acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,281 shares of the company's stock, valued at approximately $935,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Financial Wealth Advisors LLC purchased a new position in shares of Citigroup in the 4th quarter valued at about $224,000. Covestor Ltd boosted its holdings in Citigroup by 49.5% in the fourth quarter. Covestor Ltd now owns 2,816 shares of the company's stock valued at $198,000 after purchasing an additional 932 shares in the last quarter. Argent Trust Co increased its stake in Citigroup by 1.6% in the fourth quarter. Argent Trust Co now owns 56,008 shares of the company's stock valued at $3,942,000 after purchasing an additional 878 shares during the last quarter. Bessemer Group Inc. raised its holdings in Citigroup by 3.2% during the fourth quarter. Bessemer Group Inc. now owns 111,096 shares of the company's stock worth $7,820,000 after purchasing an additional 3,466 shares in the last quarter. Finally, Martingale Asset Management L P lifted its position in shares of Citigroup by 273.5% during the 4th quarter. Martingale Asset Management L P now owns 18,831 shares of the company's stock worth $1,326,000 after buying an additional 13,789 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Up 2.4 %

Shares of Citigroup stock traded up $1.50 during trading hours on Monday, reaching $63.14. The stock had a trading volume of 20,304,400 shares, compared to its average volume of 17,949,813. The firm has a 50 day simple moving average of $72.91 and a two-hundred day simple moving average of $71.01. The firm has a market capitalization of $118.84 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's dividend payout ratio is presently 37.65%.

Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI reduced their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. StockNews.com lowered shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. The Goldman Sachs Group dropped their price objective on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Finally, Morgan Stanley lowered their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $84.54.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 sale, the chief operating officer now owns 229,180 shares of the company's stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last quarter. Company insiders own 0.08% of the company's stock.

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.