Capital Management Corp VA Decreases Stock Holdings in Citigroup Inc. (NYSE:C)

Capital Management Corp VA decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,844 shares of the company’s stock after selling 1,305 shares during the period. Capital Management Corp VA’s holdings in Citigroup were worth $8,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Core Alternative Capital raised its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter valued at $31,000. Creative Capital Management Investments LLC acquired a new position in Citigroup in the 4th quarter valued at $35,000. Webster Bank N. A. raised its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in Citigroup in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.0 %

Shares of NYSE:C opened at $70.55 on Friday. The business has a 50-day moving average price of $77.91 and a 200 day moving average price of $69.60. 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 company has a market capitalization of $132.94 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the business posted $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors 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 yield of 3.18%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. The Goldman Sachs Group raised their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Activity at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the firm’s 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 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 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 dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value 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 $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 in the last three months. 0.08% of the stock is owned by company insiders.

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.