Choate Investment Advisors Has $562,000 Position in Citigroup Inc. (NYSE:C)

Choate Investment Advisors raised its stake in shares of Citigroup Inc. (NYSE:C) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,986 shares of the company’s stock after purchasing an additional 1,420 shares during the period. Choate Investment Advisors’ holdings in Citigroup were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of C. Core Alternative Capital grew its holdings in 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 buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the third quarter valued at approximately $31,000. Webster Bank N. A. grew its stake in shares of 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 acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in Citigroup during the fourth quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter valued at $37,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $68.84 on Monday. The stock has a market capitalization of $129.73 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a 50 day moving average of $77.63 and a 200-day moving average of $70.00. 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 (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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Insiders Place Their Bets

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 transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % 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, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on C. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. 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 report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Bank of America raised their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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.