Citigroup Inc. (NYSE:C) Position Reduced by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators reduced its position in Citigroup Inc. (NYSE:C) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,847 shares of the company’s stock after selling 1,112 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Citigroup were worth $623,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brookstone Capital Management grew its position in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. grew its holdings in shares of Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Citigroup by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares in the last quarter. FNY Investment Advisers LLC increased its stake in shares of Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after acquiring an additional 20,291 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price target on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 2.1 %

Citigroup stock opened at $79.65 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm has a fifty day moving average price of $76.80 and a two-hundred day moving average price of $68.48. The firm has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.66 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings data 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 business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. Citigroup’s dividend payout ratio is 37.65%.

Citigroup announced that its board has authorized a share buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now 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. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

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.