Umpqua Bank Decreases Stake in Citigroup Inc. (NYSE:C)

Umpqua Bank reduced its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,055 shares of the company's stock after selling 8,275 shares during the period. Umpqua Bank's holdings in Citigroup were worth $886,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in C. Core Alternative Capital grew its holdings in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Citigroup in the third quarter valued at $31,000. Webster Bank N. A. lifted its stake in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new position in Citigroup during the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in Citigroup in the 4th quarter valued at $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, January 16th. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Evercore ISI raised their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. Finally, Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $83.53.

Remove Ads

Insider Activity

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

Citigroup stock traded down $1.27 during mid-day trading on Wednesday, reaching $73.20. 12,343,169 shares of the company's stock traded hands, compared to its average volume of 13,273,787. The company has a market cap of $137.78 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $77.39 and a two-hundred day moving average of $70.55.

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, 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 during the quarter, compared to analysts' expectations of $19.51 billion. During the same period in the previous year, the company earned $0.84 EPS. The firm's quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a dividend of $0.56 per share. 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 3.06%. Citigroup's payout ratio is 37.65%.

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

Citigroup 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.