Murphy & Mullick Capital Management Corp Buys New Position in Citigroup Inc. (NYSE:C)

Murphy & Mullick Capital Management Corp purchased a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,096 shares of the company’s stock, valued at approximately $77,000.

Several other institutional investors also recently added to or reduced their stakes in C. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Citigroup by 26.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,303,686 shares of the company’s stock worth $91,766,000 after purchasing an additional 271,093 shares during the period. Aire Advisors LLC acquired a new stake in Citigroup during the fourth quarter worth about $228,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in Citigroup by 22.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 121,244 shares of the company’s stock valued at $8,534,000 after acquiring an additional 22,072 shares during the period. Baxter Bros Inc. acquired a new position in Citigroup in the 4th quarter valued at approximately $219,000. Finally, Bay Capital Advisors LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $330,000. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on C. Morgan Stanley lowered their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Oppenheimer decreased 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. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.53.

Citigroup Stock Down 1.7 %

Shares of C opened at $73.20 on Thursday. The business’s 50 day simple moving average is $77.39 and its 200-day simple moving average is $70.55. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a market capitalization of $137.78 billion, a P/E ratio of 12.30, a PEG ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS 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 analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.06%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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

Insider Activity at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.