HBK Sorce Advisory LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

HBK Sorce Advisory LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,803 shares of the company’s stock after purchasing an additional 1,224 shares during the period. HBK Sorce Advisory LLC’s holdings in Citigroup were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Core Alternative Capital raised its stake 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 in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the 3rd quarter worth about $31,000. Webster Bank N. A. raised its position in shares of 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 in the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE:C opened at $67.13 on Friday. The firm’s 50 day simple moving average is $77.68 and its 200-day simple moving average is $69.84. 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 Inc. has a one year low of $53.51 and a one year high of $84.74. The firm has a market cap of $126.50 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating 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 business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the company posted $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.34%. The ex-dividend date was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group increased their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. Company 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.