Carret Asset Management LLC Sells 1,056 Shares of Citigroup Inc. (NYSE:C)

Carret Asset Management LLC reduced its stake in Citigroup Inc. (NYSE:C) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,489 shares of the company’s stock after selling 1,056 shares during the period. Carret Asset Management LLC’s holdings in Citigroup were worth $2,005,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB boosted its stake in shares of Citigroup by 1.3% during the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares in the last quarter. Sigma Planning Corp lifted its position in Citigroup by 4.0% during the third quarter. Sigma Planning Corp now owns 16,987 shares of the company’s stock valued at $1,063,000 after acquiring an additional 656 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Citigroup by 9.3% during the third quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock valued at $128,000 after acquiring an additional 175 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in Citigroup by 7.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 19,784 shares of the company’s stock valued at $1,238,000 after acquiring an additional 1,431 shares during the last quarter. Finally, KBC Group NV lifted its position in Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after acquiring an additional 20,291 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 1.2 %

C opened at $67.13 on Friday. The stock has a market capitalization of $126.50 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 0.64 and a beta of 1.43. The company has a fifty day moving average of $77.68 and a two-hundred day moving average of $69.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business 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%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. On average, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.34%. Citigroup’s payout ratio is presently 37.65%.

Citigroup announced that its Board of Directors has approved a share buyback 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 generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company increased their target price 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. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Bank of America raised their price target 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by insiders.

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.