Simmons Bank Sells 294 Shares of Citigroup Inc. (NYSE:C)

Simmons Bank reduced its stake in shares of Citigroup Inc. (NYSE:C) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,743 shares of the company’s stock after selling 294 shares during the period. Simmons Bank’s holdings in Citigroup were worth $545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Core Alternative Capital boosted its stake in shares of 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 in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. grew its stake in shares of 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 buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Citigroup in the 4th quarter valued at about $37,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report 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. Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Bank of America increased their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

Shares of Citigroup stock opened at $78.91 on Friday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The firm has a market capitalization of $149.24 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.64 and a beta of 1.44. 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 business has a fifty day simple moving average of $77.51 and a two-hundred day simple moving average of $69.08.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.84%. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a stock buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company’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 transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.