Baxter Bros Inc. Takes Position in Citigroup Inc. (NYSE:C)

Baxter Bros Inc. acquired a new position in Citigroup Inc. (NYSE:C) in the 4th quarter, Holdings Channel reports. The firm acquired 3,116 shares of the company’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Core Alternative Capital raised its position in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the third quarter worth about $31,000. Webster Bank N. A. boosted its stake 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 buying an additional 300 shares during the period. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup in the 4th quarter valued at about $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on C shares. Morgan Stanley dropped their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.53.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, 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. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Up 3.0 %

Shares of NYSE:C opened at $74.12 on Tuesday. The stock has a 50-day simple moving average of $77.48 and a 200-day simple moving average of $70.42. The stock has a market capitalization of $139.67 billion, a P/E ratio of 12.46, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

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

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.