Connable Office Inc. Purchases New Stake in Citigroup Inc. (NYSE:C)

Connable Office Inc. bought a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,888 shares of the company’s stock, valued at approximately $2,245,000.

Other hedge funds also recently bought and sold shares of the company. Core Alternative Capital increased its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter worth about $31,000. Webster Bank N. A. increased its position in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new position in shares of Citigroup during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup during the 4th quarter valued at about $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on C. Keefe, Bruyette & Woods increased 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. Morgan Stanley increased 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. Bank of America increased 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. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of C stock opened at $79.78 on Friday. The stock has a 50 day moving average of $77.72 and a two-hundred day moving average of $69.23. 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 company has a market capitalization of $150.89 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the company earned $0.84 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its board has authorized a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 2.81%. Citigroup’s payout ratio is presently 37.65%.

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.