Millstone Evans Group LLC Takes Position in Citigroup Inc. (NYSE:C)

Millstone Evans Group LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,403 shares of the company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Core Alternative Capital raised its stake in shares of Citigroup by 83.4% during the fourth 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. Legacy Investment Solutions LLC bought a new position in Citigroup in the third quarter worth about $31,000. Creative Capital Management Investments LLC bought a new position in Citigroup in the fourth quarter worth about $35,000. Webster Bank N. A. raised its stake 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 in the last quarter. Finally, Sierra Ocean LLC bought a new position in Citigroup in the fourth quarter worth about $37,000. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 0.2 %

Shares of C stock opened at $71.93 on Friday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm’s 50 day moving average is $77.46 and its 200 day moving average is $70.26. The stock has a market capitalization of $135.56 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.64 and a beta of 1.43.

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. 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 analysts’ expectations of $19.51 billion. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.11%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Insider Buying and Selling

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction 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 sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on C. The Goldman Sachs Group decreased their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. 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 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, Bank of America raised their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note 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 presently has an average rating of “Moderate Buy” and an average target price of $83.53.

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.