Whittier Trust Co. of Nevada Inc. Reduces Position in Citigroup Inc. (NYSE:C)

Whittier Trust Co. of Nevada Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 23.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,634 shares of the company’s stock after selling 4,083 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Citigroup were worth $960,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Brookstone Capital Management raised its stake in shares of Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. raised its stake in shares of Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock valued at $14,139,000 after acquiring an additional 22,657 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. 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 research note on Tuesday, January 7th. Morgan Stanley reduced their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.53.

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value 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. This represents 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, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

NYSE C opened at $71.93 on Friday. The firm 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. 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 Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The firm’s fifty day simple moving average is $77.46 and its two-hundred day simple moving average is $70.26.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

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.