Lee Danner & Bass Inc. Sells 1,049 Shares of Citigroup Inc. (NYSE:C)

Lee Danner & Bass Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 31.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,264 shares of the company’s stock after selling 1,049 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Citigroup were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Core Alternative Capital lifted its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the third quarter valued at $31,000. Webster Bank N. A. increased its position in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new stake in Citigroup during the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new stake in Citigroup during the fourth quarter valued at $37,000. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Finally, The Goldman Sachs Group reduced their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday. Three investment 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 company has a consensus rating of “Moderate Buy” and an average target price of $83.53.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s 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 of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $71.93 on Friday. 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 stock has a 50-day moving average price of $77.46 and a 200 day moving average price of $70.20. The stock has a market capitalization of $135.56 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.64 and a beta of 1.43.

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

Citigroup Announces Dividend

The company also recently declared 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. This represents a $2.24 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Citigroup announced that its board 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 purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are 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.