Citigroup Inc. (NYSE:C) Stock Position Boosted by TrueMark Investments LLC

TrueMark Investments LLC grew its stake in shares of Citigroup Inc. (NYSE:C) by 9.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 70,745 shares of the company’s stock after acquiring an additional 5,981 shares during the period. Citigroup makes up about 1.6% of TrueMark Investments LLC’s holdings, making the stock its 22nd largest position. TrueMark Investments LLC’s holdings in Citigroup were worth $4,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in C. Financial Engines Advisors L.L.C. bought a new stake in Citigroup in the fourth quarter worth about $396,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Citigroup in the 4th quarter worth approximately $77,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Citigroup by 26.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,303,686 shares of the company’s stock worth $91,766,000 after purchasing an additional 271,093 shares in the last quarter. Aire Advisors LLC acquired a new stake in Citigroup during the fourth quarter valued at approximately $228,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Citigroup by 22.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 121,244 shares of the company’s stock worth $8,534,000 after buying an additional 22,072 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. 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, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.53.

Insider Activity at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Up 0.5 %

C stock opened at $74.43 on Wednesday. The company has a 50 day moving average of $77.50 and a two-hundred day moving average of $70.53. The company has a market cap of $140.09 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12-month low of $53.51 and a 12-month 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.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.01%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.