Edgemoor Investment Advisors Inc. Sells 2,016 Shares of Citigroup Inc. (NYSE:C)

Edgemoor Investment Advisors Inc. decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,655 shares of the company’s stock after selling 2,016 shares during the period. Citigroup accounts for 0.9% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 28th largest position. Edgemoor Investment Advisors Inc.’s holdings in Citigroup were worth $9,760,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Core Alternative Capital increased its position in shares of 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 acquiring an additional 171 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup during the 3rd quarter worth $31,000. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup during the 4th quarter worth $35,000. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Citigroup during the 4th quarter valued at $37,000. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the 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 sale, the chief financial officer now 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. Over the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on C. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Trading Up 2.4 %

Shares of Citigroup stock opened at $68.84 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. 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 $129.73 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.64 and a beta of 1.43. The firm’s 50 day simple moving average is $77.63 and its two-hundred day simple moving average is $70.00.

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 business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.25%. Citigroup’s payout ratio is currently 37.65%.

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.