Anand Selvakesari Sells 30,000 Shares of Citigroup Inc. (NYSE:C) Stock

Citigroup Inc. (NYSE:C) COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Citigroup Stock Down 0.0 %

C stock traded down $0.02 during mid-day trading on Tuesday, hitting $84.59. The stock had a trading volume of 16,709,975 shares, compared to its average volume of 15,816,831. 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 1-year low of $53.51 and a 1-year high of $84.74. The company has a fifty day moving average of $75.95 and a 200 day moving average of $67.93. The stock has a market capitalization of $159.99 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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

Institutional Trading of Citigroup

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after acquiring an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after acquiring an additional 815,003 shares in the last quarter. FMR LLC boosted its stake in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors boosted its stake in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley upped their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” 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 price objective for the company. Finally, Bank of America upped their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.