Birinyi Associates Inc. Sells 421 Shares of Citigroup Inc. (NYSE:C)

Birinyi Associates Inc. lessened its holdings in Citigroup Inc. (NYSE:C) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,350 shares of the company’s stock after selling 421 shares during the period. Citigroup comprises 2.0% of Birinyi Associates Inc.’s holdings, making the stock its 11th biggest holding. Birinyi Associates Inc.’s holdings in Citigroup were worth $7,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of C. Core Alternative Capital boosted its stake in shares of 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 in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. boosted its stake in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at about $35,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI lifted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Down 0.5 %

NYSE C opened at $78.15 on Wednesday. The company has a market cap of $147.80 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The business has a 50 day moving average price of $77.08 and a 200-day moving average price of $68.94. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released 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. The firm had revenue of $19.58 billion during 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 company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.87%. Citigroup’s dividend payout ratio is 37.65%.

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.