Gulf International Bank UK Ltd Lowers Stake in Citigroup Inc. (NYSE:C)

Gulf International Bank UK Ltd decreased its stake in Citigroup Inc. (NYSE:C) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,312 shares of the company’s stock after selling 1,678 shares during the period. Gulf International Bank UK Ltd’s holdings in Citigroup were worth $10,721,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hemington Wealth Management boosted its stake in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the last quarter. Avitas Wealth Management LLC grew its position in shares of Citigroup by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after purchasing an additional 143 shares during the last quarter. NTV Asset Management LLC grew its position in shares of Citigroup by 2.5% in the fourth quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock valued at $429,000 after purchasing an additional 148 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its position in Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on C shares. Evercore ISI raised their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 in the last quarter. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Up 1.1 %

Citigroup stock opened at $79.00 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $149.41 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm’s 50-day simple moving average is $77.30 and its 200 day simple moving average is $69.01.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business 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%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. Research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.84%. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a share buyback 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 usually a sign that the company’s leadership believes its stock is undervalued.

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.