Family Legacy Inc. Increases Position in Citigroup Inc. (NYSE:C)

Family Legacy Inc. grew its stake in shares of Citigroup Inc. (NYSE:C) by 3.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,007 shares of the company’s stock after purchasing an additional 227 shares during the quarter. Family Legacy Inc.’s holdings in Citigroup were worth $513,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Blake Schutter Theil Wealth Advisors LLC lifted its stake in shares of Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after acquiring an additional 135 shares in the last quarter. Hemington Wealth Management lifted its position in shares of Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after buying an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after acquiring an additional 137 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after buying an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE C opened at $70.28 on Monday. The stock has a market cap of $132.28 billion, a PE ratio of 11.81, a price-to-earnings-growth 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 Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a fifty day moving average price of $77.06 and a 200-day moving average price of $70.81.

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. 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 last year, the company earned $0.84 earnings per share. Citigroup’s revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted 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. Piper Sandler reissued 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 lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group cut their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Finally, Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, 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. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

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.