Citigroup Inc. (NYSE:C) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lowered its position in Citigroup Inc. (NYSE:C) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 34,163 shares of the company’s stock after selling 322 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Citigroup were worth $2,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blake Schutter Theil Wealth Advisors LLC lifted its position in Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after buying an additional 135 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after acquiring an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after acquiring an additional 137 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Citigroup by 2.4% during the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after acquiring an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the topic of a number of research 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. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.53.

Citigroup Stock Performance

Shares of NYSE:C opened at $74.43 on Wednesday. The business has a 50-day moving average of $77.50 and a two-hundred day moving average of $70.53. The firm has a market capitalization of $140.09 billion, a PE ratio of 12.51, a P/E/G 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 debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the firm’s 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 transaction, the insider now directly owns 109,780 shares in the company, 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 three months, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Citigroup Company 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.