Citigroup Inc. (NYSE:C) Stake Lessened by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lessened its stake in Citigroup Inc. (NYSE:C) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,756 shares of the company’s stock after selling 278 shares during the period. Parkside Financial Bank & Trust’s holdings in Citigroup were worth $616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Alternative Capital increased its stake in 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 during the last quarter. Legacy Investment Solutions LLC bought a new stake in Citigroup during the third quarter valued at $31,000. Webster Bank N. A. increased its stake 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 purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup during the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC bought a new stake in Citigroup during the fourth quarter valued at $37,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C stock opened at $79.78 on Friday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $150.89 billion, a P/E ratio of 13.41, a PEG ratio of 0.64 and a beta of 1.44. The company has a 50-day simple moving average of $77.72 and a 200 day simple moving average of $69.23.

Citigroup (NYSE:C) last issued 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 net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on C. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Buying and Selling at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by insiders.

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.