United Services Automobile Association Lowers Holdings in Citigroup Inc. (NYSE:C)

United Services Automobile Association reduced its stake in shares of Citigroup Inc. (NYSE:C) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,745 shares of the company’s stock after selling 565 shares during the period. United Services Automobile Association’s holdings in Citigroup were worth $3,079,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Brookstone Capital Management increased its stake in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares during 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 worth $4,852,000 after purchasing an additional 20,000 shares during the period. FNY Investment Advisers LLC increased its position in Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,280 shares in the last quarter. HighTower Advisors LLC raised its holdings in Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after buying an additional 8,301 shares during the period. Finally, Candriam S.C.A. lifted its position in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock valued at $14,139,000 after buying an additional 22,657 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of NYSE C opened at $71.93 on Monday. Citigroup Inc. has a 12-month low of $53.51 and a 12-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. The company has a market cap of $135.56 billion, a PE ratio of 12.09, a P/E/G ratio of 0.64 and a beta of 1.43. The stock has a 50 day simple moving average of $77.46 and a 200-day simple moving average of $70.32.

Citigroup (NYSE:C) last released its quarterly earnings results 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 company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its board has authorized 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 repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on C. The Goldman Sachs Group decreased their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Oppenheimer reduced their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.53.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’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 transaction, 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 disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. Corporate insiders own 0.08% of the company’s stock.

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.