BankPlus Trust Department Invests $63,000 in Citigroup Inc. (NYSE:C)

BankPlus Trust Department purchased a new position in Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 895 shares of the company’s stock, valued at approximately $63,000.

Several other large investors have also recently made changes to their positions in C. AMF Tjanstepension AB bought a new position in shares of Citigroup in the 3rd quarter worth $4,607,000. Swedbank AB raised its position in shares of Citigroup by 1.3% in the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after acquiring an additional 54,782 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Citigroup by 20.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 770,610 shares of the company’s stock worth $47,526,000 after acquiring an additional 130,269 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Citigroup in the 3rd quarter worth $249,000. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was 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 in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The stock was 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 approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Performance

Shares of NYSE:C opened at $78.15 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day moving average price is $77.08 and its 200-day moving average price is $68.94. The firm has a market capitalization of $147.80 billion, a PE ratio of 13.13, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C) last issued its quarterly 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 return on equity of 6.62% and a net margin of 7.43%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.87%. Citigroup’s payout ratio is 37.65%.

Analyst Ratings Changes

Several brokerages recently issued reports on C. The Goldman Sachs Group upped their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.