Allstate Corp Purchases Shares of 56,370 Citigroup Inc. (NYSE:C)

Allstate Corp acquired a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,370 shares of the company’s stock, valued at approximately $3,968,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. DnB Asset Management AS raised its stake in Citigroup by 2.0% in the 4th quarter. DnB Asset Management AS now owns 596,063 shares of the company’s stock valued at $41,957,000 after acquiring an additional 11,933 shares during the period. Alerus Financial NA acquired a new stake in shares of Citigroup during the 4th quarter worth about $365,000. Level Four Advisory Services LLC boosted its holdings in shares of Citigroup by 6.8% during the 4th quarter. Level Four Advisory Services LLC now owns 169,099 shares of the company’s stock worth $11,903,000 after buying an additional 10,809 shares during the period. Slagle Financial LLC grew its stake in Citigroup by 6.1% in the 4th quarter. Slagle Financial LLC now owns 27,061 shares of the company’s stock valued at $1,905,000 after buying an additional 1,556 shares during the last quarter. Finally, denkapparat Operations GmbH bought a new position in Citigroup in the 4th quarter valued at about $742,000. 71.72% of the stock is owned by institutional investors.

Insider Activity at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’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 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 approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on 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 represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on C. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. 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 research report on Tuesday, January 7th. Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Citigroup Stock Down 2.2 %

Shares of NYSE C opened at $70.28 on Friday. The stock has a 50-day moving average price of $77.06 and a two-hundred day moving average price of $70.63. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. 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 company has a market cap of $132.28 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its 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 firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

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

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.