Citigroup Inc. (NYSE:C) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC cut its position in shares of Citigroup Inc. (NYSE:C) by 6.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 36,878 shares of the company’s stock after selling 2,707 shares during the quarter. Citigroup accounts for 1.0% of 44 Wealth Management LLC’s portfolio, making the stock its 26th largest position. 44 Wealth Management LLC’s holdings in Citigroup were worth $2,596,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Callan Capital LLC increased its position in shares of Citigroup by 11.7% during the 4th quarter. Callan Capital LLC now owns 6,245 shares of the company’s stock valued at $440,000 after purchasing an additional 655 shares during the period. Carl P. Sherr & Co. LLC bought a new stake in shares of Citigroup during the 4th quarter worth $250,000. Navellier & Associates Inc. boosted its stake in shares of Citigroup by 25.7% during the 4th quarter. Navellier & Associates Inc. now owns 15,076 shares of the company’s stock worth $1,061,000 after acquiring an additional 3,078 shares in the last quarter. Camelot Portfolios LLC bought a new stake in shares of Citigroup during the 4th quarter worth $207,000. Finally, Boyd Watterson Asset Management LLC OH boosted its stake in shares of Citigroup by 12.4% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 30,992 shares of the company’s stock worth $2,182,000 after acquiring an additional 3,421 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company raised their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Trading Down 2.1 %

Citigroup stock opened at $79.65 on Friday. 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 business’s 50-day simple moving average is $76.80 and its 200-day simple moving average is $68.48. The firm has a market capitalization of $150.63 billion, a PE ratio of 13.39, a PEG ratio of 0.66 and a beta of 1.44. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business 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 revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Equities 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 will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.81%. Citigroup’s payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred 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 directly owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

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.