Selway Asset Management Trims Stock Position in Citigroup Inc. (NYSE:C)

Selway Asset Management decreased its holdings in Citigroup Inc. (NYSE:C) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,717 shares of the company’s stock after selling 600 shares during the quarter. Selway Asset Management’s holdings in Citigroup were worth $2,162,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Spahn Wealth & Retirement LLC bought a new position in shares of Citigroup in the fourth quarter worth about $3,969,000. World Investment Advisors raised its stake in Citigroup by 24.1% during the 4th quarter. World Investment Advisors now owns 26,706 shares of the company’s stock worth $1,880,000 after acquiring an additional 5,179 shares during the period. OneAscent Financial Services LLC lifted its holdings in Citigroup by 9.8% during the fourth quarter. OneAscent Financial Services LLC now owns 4,425 shares of the company’s stock valued at $312,000 after purchasing an additional 395 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Citigroup by 2.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 38,226 shares of the company’s stock worth $2,691,000 after purchasing an additional 984 shares during the period. Finally, Groupama Asset Managment increased its stake in shares of Citigroup by 50.8% in the fourth quarter. Groupama Asset Managment now owns 381,530 shares of the company’s stock worth $26,856,000 after purchasing an additional 128,518 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

C has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. The Goldman Sachs Group cut their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Morgan Stanley lowered their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating and eleven 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 $83.86.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. 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 quarter. Insiders own 0.08% of the company’s stock.

Citigroup Stock Up 1.8 %

Shares of NYSE C opened at $71.81 on Thursday. 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 50-day moving average price is $76.46 and its 200-day moving average price is $71.01. The stock has a market capitalization of $135.16 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.43.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has approved a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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.