Hazlett Burt & Watson Inc. Sells 185 Shares of Citigroup Inc. (NYSE:C)

Hazlett Burt & Watson Inc. reduced its position in shares of Citigroup Inc. (NYSE:C) by 29.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 450 shares of the company’s stock after selling 185 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Citigroup were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in C. Core Alternative Capital increased its holdings in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Citigroup in the third quarter valued at approximately $31,000. Webster Bank N. A. raised its holdings in Citigroup by 150.0% in the fourth 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 period. Creative Capital Management Investments LLC bought a new position in shares of Citigroup during the fourth quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $37,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the firm’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 transaction of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $71.08 on Tuesday. The company has a market capitalization of $133.78 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.64 and a beta of 1.43. The stock’s 50 day moving average is $76.88 and its 200-day moving average is $70.91. 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.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given 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 yield of 3.15%. Citigroup’s dividend payout ratio is 37.65%.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Morgan Stanley dropped their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price of $84.50.

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.