AlphaQuest LLC Sells 11,138 Shares of Citigroup Inc. (NYSE:C)

AlphaQuest LLC lowered its position in Citigroup Inc. (NYSE:C) by 32.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,373 shares of the company’s stock after selling 11,138 shares during the quarter. AlphaQuest LLC’s holdings in Citigroup were worth $1,645,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Core Alternative Capital raised its position 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 bought a new position in Citigroup in the 3rd quarter valued at $31,000. Webster Bank N. A. raised its holdings in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup in the fourth quarter valued at about $37,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.0 %

Citigroup stock opened at $70.55 on Friday. The firm 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. The company’s 50 day simple moving average is $77.90 and its 200 day simple moving average is $69.72. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last announced its quarterly 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.18%. Citigroup’s payout ratio is 37.65%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI upped 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. Truist Financial assumed 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. Bank of America upped their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Insiders Place Their Bets

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the 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 transaction, the insider now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup 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.