RKL Wealth Management LLC Makes New $208,000 Investment in Citigroup Inc. (NYSE:C)

RKL Wealth Management LLC bought a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,962 shares of the company’s stock, valued at approximately $208,000.

Other large investors also recently bought and sold shares of the company. Brookstone Capital Management lifted its holdings in shares of Citigroup by 340.6% in the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. lifted its holdings in shares of Citigroup by 34.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,280 shares during the last quarter. HighTower Advisors LLC increased its position in Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the period. Finally, KBC Group NV increased its position in Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after acquiring an additional 20,291 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $70.55 on Friday. The stock has a market cap of $132.94 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business has a fifty day simple moving average of $77.90 and a 200-day simple moving average of $69.72. 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 Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has approved a share repurchase 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 board believes its stock is undervalued.

Analyst Ratings Changes

C has been the topic of several analyst reports. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Wells Fargo & Company raised their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America raised their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of Citigroup 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 of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

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.