Truist Financial Corp Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Truist Financial Corp lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 322,026 shares of the company's stock after acquiring an additional 9,254 shares during the quarter. Truist Financial Corp's holdings in Citigroup were worth $22,667,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Core Alternative Capital raised its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after buying an additional 171 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in Citigroup during the 3rd quarter valued at $31,000. Webster Bank N. A. raised its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after buying an additional 300 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company's stock valued at $36,000 after buying an additional 368 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on C shares. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a "buy" rating and a $85.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Bank of America upped their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their price objective 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $83.93.

Insider Buying and Selling at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction dated Friday, February 14th. The shares were 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 owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. In the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company's stock.

Citigroup Stock Down 1.9 %

C stock traded down $1.58 during trading on Friday, hitting $79.76. 6,908,375 shares of the stock traded hands, compared to its average volume of 15,374,429. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm's 50 day moving average is $76.63 and its two-hundred day moving average is $68.32. The stock has a market cap of $150.85 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.66 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm posted $0.84 EPS. Citigroup's revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup's dividend payout ratio is currently 37.65%.

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

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.