Boothbay Fund Management LLC Acquires 88,126 Shares of Citigroup Inc. (NYSE:C)

Boothbay Fund Management LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 170.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,840 shares of the company’s stock after acquiring an additional 88,126 shares during the quarter. Boothbay Fund Management LLC’s holdings in Citigroup were worth $9,843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Alternative Capital raised its holdings in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in Citigroup in the fourth quarter worth about $35,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the period. Sierra Ocean LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Citigroup during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of several research reports. Evercore ISI dropped their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Bank of America decreased their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $84.61.

Citigroup Price Performance

NYSE C opened at $68.47 on Friday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The stock has a 50-day moving average of $69.38 and a 200 day moving average of $71.05. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $128.88 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.27%. Citigroup’s payout ratio is 35.39%.

Citigroup declared that its board has authorized a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Citigroup

In other news, 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 completion of the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction 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 owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last ninety days. Insiders own 0.08% of the company’s stock.

About Citigroup

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.