Commerce Bank Has $15.57 Million Holdings in Citigroup Inc. (NYSE:C)

Commerce Bank increased its stake in shares of Citigroup Inc. (NYSE:C) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,135 shares of the company’s stock after acquiring an additional 891 shares during the period. Commerce Bank’s holdings in Citigroup were worth $15,566,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% in 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 during the last quarter. Webster Bank N. A. increased its stake in Citigroup by 150.0% in 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 during the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter worth about $35,000. Sierra Ocean LLC acquired a new position in shares of Citigroup during the 4th quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Citigroup in the 4th quarter valued at about $39,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on C shares. Evercore ISI dropped their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Truist Financial dropped their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $84.61.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C opened at $63.23 on Friday. The firm has a market cap of $119.01 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The business’s 50 day moving average is $71.12 and its 200-day moving average is $70.92. 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 1-year low of $53.51 and a 1-year high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.54%. Citigroup’s payout ratio is presently 37.65%.

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

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.