Patten & Patten Inc. TN Sells 1,286 Shares of Citigroup Inc. (NYSE:C)

Patten & Patten Inc. TN cut its holdings in Citigroup Inc. (NYSE:C) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,978 shares of the company’s stock after selling 1,286 shares during the quarter. Patten & Patten Inc. TN’s holdings in Citigroup were worth $3,307,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of C. Core Alternative Capital boosted its holdings 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 buying an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter valued at $31,000. Webster Bank N. A. boosted its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new position in Citigroup during the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at about $37,000. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $68.84 on Friday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market cap of $129.73 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business’s 50 day moving average price is $77.63 and its two-hundred day moving average price is $69.94. 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 posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 business 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 business earned $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 3.25%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Insider Activity at Citigroup

In other 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 value of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on C shares. Evercore ISI increased 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. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Three investment 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 currently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.