GLOBALT Investments LLC GA Has $5.13 Million Stake in Citigroup Inc. (NYSE:C)

GLOBALT Investments LLC GA decreased its position in shares of Citigroup Inc. (NYSE:C) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,891 shares of the company’s stock after selling 370 shares during the period. GLOBALT Investments LLC GA’s holdings in Citigroup were worth $5,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SlateStone Wealth LLC increased its holdings in shares of Citigroup by 17.8% during the 4th quarter. SlateStone Wealth LLC now owns 4,602 shares of the company’s stock worth $324,000 after purchasing an additional 695 shares during the period. Glenview Trust co increased its holdings in shares of Citigroup by 1.0% during the 4th quarter. Glenview Trust co now owns 225,675 shares of the company’s stock worth $15,885,000 after purchasing an additional 2,261 shares during the period. Gallacher Capital Management LLC increased its holdings in shares of Citigroup by 7.3% during the 4th quarter. Gallacher Capital Management LLC now owns 9,229 shares of the company’s stock worth $650,000 after purchasing an additional 628 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Citigroup by 3.9% during the 4th quarter. Corient Private Wealth LLC now owns 467,474 shares of the company’s stock worth $32,442,000 after purchasing an additional 17,590 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Citigroup by 9.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 74,215 shares of the company’s stock worth $5,224,000 after purchasing an additional 6,340 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the 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 in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

NYSE:C opened at $68.84 on Monday. The firm has a market cap of $129.73 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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 company’s 50-day moving average price is $77.63 and its two-hundred day moving average price is $70.00.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the business earned $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Dividend Announcement

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

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.