Thoroughbred Financial Services LLC Reduces Holdings in Citigroup Inc. (NYSE:C)

Thoroughbred Financial Services LLC cut its position in Citigroup Inc. (NYSE:C) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,850 shares of the company’s stock after selling 460 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Citigroup were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in C. Core Alternative Capital increased its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the third quarter worth approximately $31,000. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the fourth quarter worth $35,000. Webster Bank N. A. increased its stake in shares of Citigroup by 150.0% in 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 last quarter. Finally, Sierra Ocean LLC acquired a new stake in Citigroup in the fourth quarter valued at $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of NYSE C opened at $58.00 on Friday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a market cap of $109.17 billion, a PE ratio of 9.75, a P/E/G ratio of 0.64 and a beta of 1.29. The stock has a 50 day simple moving average of $75.61 and a 200-day simple moving average of $70.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced 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 company had revenue of $19.58 billion during 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 firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has authorized a stock 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 generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

C has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Morgan Stanley lowered their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. lowered their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday. 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 note on Thursday, January 16th. Finally, Bank of America lowered their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.23.

Insider Transactions at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

About Citigroup

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.