Citigroup Inc. (NYSE:C) Shares Sold by Access Investment Management LLC

Access Investment Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,000 shares of the company’s stock after selling 2,000 shares during the quarter. Citigroup accounts for about 2.3% of Access Investment Management LLC’s portfolio, making the stock its 14th biggest holding. Access Investment Management LLC’s holdings in Citigroup were worth $8,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hemington Wealth Management lifted its holdings in Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after acquiring an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the period. Avitas Wealth Management LLC raised its holdings in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after buying an additional 143 shares during the period. NTV Asset Management LLC raised its holdings in Citigroup by 2.5% during the 4th quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock worth $429,000 after buying an additional 148 shares during the period. Finally, Robertson Stephens Wealth Management LLC raised its holdings in Citigroup by 0.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after buying an additional 150 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % 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 90 days. 0.08% of the stock is currently owned by company insiders.

Citigroup Trading Down 2.1 %

NYSE:C opened at $79.65 on Friday. The stock’s 50 day moving average price is $76.80 and its 200 day moving average price is $68.56. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a market capitalization of $150.63 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has authorized a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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 given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on C. Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.