Prasad Wealth Partners LLC Takes $1.10 Million Position in Citigroup Inc. (NYSE:C)

Prasad Wealth Partners LLC purchased a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 15,550 shares of the company’s stock, valued at approximately $1,095,000.

A number of other institutional investors also recently bought and sold shares of C. BankPlus Trust Department bought a new stake in shares of Citigroup during the fourth quarter worth $63,000. Impax Asset Management Group plc lifted its position in shares of Citigroup by 17.6% during the fourth quarter. Impax Asset Management Group plc now owns 182,357 shares of the company’s stock worth $12,836,000 after purchasing an additional 27,322 shares during the last quarter. Skylands Capital LLC lifted its position in shares of Citigroup by 2.4% during the fourth quarter. Skylands Capital LLC now owns 136,775 shares of the company’s stock worth $9,628,000 after purchasing an additional 3,150 shares during the last quarter. Wealthstream Advisors Inc. purchased a new position in shares of Citigroup during the fourth quarter valued at $315,000. Finally, IFP Advisors Inc increased its stake in shares of Citigroup by 6.8% during the fourth quarter. IFP Advisors Inc now owns 52,535 shares of the company’s stock valued at $3,698,000 after buying an additional 3,323 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 1.5 %

Citigroup stock opened at $78.49 on Tuesday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a market capitalization of $148.44 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The stock has a 50-day moving average price of $76.94 and a 200 day moving average price of $68.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently declared 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. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Insider Buying and Selling at Citigroup

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 business’s 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.