Citigroup Inc. (NYSE:C) Insider Sara Wechter Sells 15,125 Shares of Stock

Citigroup Inc. (NYSE:C) insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated 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 completion of the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Citigroup Stock Performance

Citigroup stock opened at $84.59 on Wednesday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year 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 has a market capitalization of $159.99 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The firm’s 50 day simple moving average is $76.19 and its 200 day simple moving average is $68.12.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.65%. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has approved a stock buyback 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 usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brookstone Capital Management raised its position in 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 purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. increased its position in shares of Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after buying an additional 8,301 shares in the last quarter. FNY Investment Advisers LLC lifted its position in Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after buying an additional 12,280 shares during the last quarter. Finally, KBC Group NV boosted its stake in Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after buying an additional 20,291 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on C shares. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report 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 research report on Thursday, January 16th. Evercore ISI lifted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company Profile

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.