Insider Selling: Citigroup Inc. (NYSE:C) COO Sells 30,000 Shares of Stock

Citigroup Inc. (NYSE:C) COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Citigroup Trading Down 0.0 %

Shares of C stock opened at $84.59 on Wednesday. The business has a 50-day moving average price of $76.19 and a two-hundred day moving average price of $68.12. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $159.99 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during 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%. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of C. Core Alternative Capital lifted its stake in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the last quarter. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in Citigroup in the third quarter valued at approximately $31,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup during the third quarter valued at approximately $28,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the fourth quarter worth approximately $35,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on C. The Goldman Sachs Group upped their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have given 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 price target of $83.93.

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.