Morningstar Investment Management LLC Sells 17,080 Shares of Citigroup Inc. (NYSE:C)

Morningstar Investment Management LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 70.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,324 shares of the company’s stock after selling 17,080 shares during the quarter. Morningstar Investment Management LLC’s holdings in Citigroup were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in C. Core Alternative Capital grew its stake in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Citigroup during the third quarter worth about $28,000. Legacy Investment Solutions LLC bought a new stake in Citigroup during the third quarter worth about $31,000. Webster Bank N. A. lifted its position in shares of Citigroup by 150.0% during 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 in the last quarter. Finally, Creative Capital Management Investments LLC acquired a new position in shares of Citigroup during the fourth quarter worth approximately $35,000. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on C shares. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Oppenheimer reduced their target price on shares of 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 started coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, 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 report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insiders Place Their Bets

In other news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Down 0.8 %

C opened at $83.94 on Thursday. The firm’s fifty day moving average is $76.43 and its two-hundred day moving average is $68.23. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $158.74 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

Citigroup (NYSE:C) last posted its earnings results 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. The company 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 for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.67%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.