Round Hill Asset Management Decreases Position in Citigroup Inc. (NYSE:C)

Round Hill Asset Management lessened its position in Citigroup Inc. (NYSE:C) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,699 shares of the company’s stock after selling 730 shares during the period. Citigroup comprises 1.4% of Round Hill Asset Management’s portfolio, making the stock its 21st largest holding. Round Hill Asset Management’s holdings in Citigroup were worth $2,020,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on 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 owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on 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 owns 109,780 shares in the company, valued at $8,893,277.80. The trade was 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 three months. Corporate insiders own 0.08% of the company’s stock.

Citigroup Trading Down 8.0 %

Shares of NYSE:C opened at $58.00 on Monday. The company has a market capitalization of $109.17 billion, a PE ratio of 9.75, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick 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. The business’s fifty day simple moving average is $75.61 and its 200-day simple moving average is $71.11.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.86%. Citigroup’s payout ratio is 37.65%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on C shares. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Morgan Stanley reduced their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.23.

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.