Oak Harbor Wealth Partners LLC Purchases New Shares in Citigroup Inc. (NYSE:C)

Oak Harbor Wealth Partners LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,064 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management boosted its position in shares of 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 buying an additional 27,856 shares during the period. Inspire Trust Co. N.A. boosted its holdings in 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 during the period. FNY Investment Advisers LLC grew its position in Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares during the last quarter. HighTower Advisors LLC increased its stake in Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares during the period. Finally, KBC Group NV lifted its position 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 purchasing an additional 20,291 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity

In other news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value 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. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of the 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 transaction, the chief financial officer now 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. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on C. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Oppenheimer lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 0.0 %

NYSE:C opened at $70.55 on Friday. The company’s 50 day moving average is $77.91 and its two-hundred day moving average is $69.60. The company has a market cap of $132.94 billion, a PE ratio of 11.86, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. 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 (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. Analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated a stock buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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.