44 Wealth Management LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

44 Wealth Management LLC lowered its holdings in Citigroup Inc. (NYSE:C) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,878 shares of the company’s stock after selling 2,707 shares during the period. Citigroup accounts for 1.0% of 44 Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. 44 Wealth Management LLC’s holdings in Citigroup were worth $2,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Alternative Capital grew its position in shares of Citigroup by 83.4% in 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 during the period. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the third quarter valued at about $31,000. Creative Capital Management Investments LLC purchased a new stake in Citigroup during the fourth quarter valued at about $35,000. Webster Bank N. A. grew 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 period. Finally, Sierra Ocean LLC purchased a new stake in Citigroup during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares in the company, 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. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Citigroup Trading Down 2.1 %

Shares of NYSE C opened at $79.65 on Friday. The stock’s 50 day moving average price is $76.80 and its two-hundred day moving average price is $68.48. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The stock has a market capitalization of $150.63 billion, a P/E ratio of 13.39, a PEG ratio of 0.66 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.