First Financial Bankshares Inc Has $47.06 Million Stake in Citigroup Inc. (NYSE:C)

First Financial Bankshares Inc decreased its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 668,545 shares of the company’s stock after selling 10,643 shares during the period. First Financial Bankshares Inc’s holdings in Citigroup were worth $47,059,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Blake Schutter Theil Wealth Advisors LLC increased its holdings in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after acquiring an additional 135 shares during the last quarter. Hemington Wealth Management grew its holdings in Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after buying an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after buying an additional 137 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after buying an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on C. Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. The Goldman Sachs Group raised their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents 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, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction 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 directly owns 217,331 shares of the company’s stock, valued at $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 quarter, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

Citigroup stock opened at $70.24 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $132.37 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business has a 50 day simple moving average of $77.51 and a 200 day simple moving average of $70.11.

Citigroup (NYSE:C) last issued 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 during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.19%. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its board has approved a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.