Citigroup Inc. (NYSE:C) Stock Position Boosted by Sabal Trust CO

Sabal Trust CO grew its stake in shares of Citigroup Inc. (NYSE:C) by 84.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,170 shares of the company’s stock after buying an additional 5,586 shares during the quarter. Sabal Trust CO’s holdings in Citigroup were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. DMKC Advisory Services LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $1,387,000. Lake Street Advisors Group LLC lifted its holdings in Citigroup by 4.1% in the 4th quarter. Lake Street Advisors Group LLC now owns 15,059 shares of the company’s stock valued at $1,060,000 after acquiring an additional 598 shares during the last quarter. Longbow Finance SA bought a new position in shares of Citigroup during the 4th quarter valued at about $9,061,000. Illinois Municipal Retirement Fund lifted its stake in Citigroup by 20.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 184,527 shares of the company’s stock valued at $12,989,000 after purchasing an additional 31,883 shares during the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in shares of Citigroup during the 4th quarter valued at $437,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated 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 approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred 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 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. Insiders have sold 103,590 shares of company stock valued at $8,523,149 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Down 0.5 %

Shares of C stock opened at $78.15 on Wednesday. The company has a market capitalization of $147.80 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The firm has a fifty day moving average of $77.08 and a 200-day moving average of $68.94. 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 released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a stock 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 board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

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 paid a $0.56 dividend. 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 dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on C shares. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.