Citigroup Inc. (NYSE:C) Shares Sold by Seven Mile Advisory

Seven Mile Advisory reduced its stake in shares of Citigroup Inc. (NYSE:C) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,841 shares of the company’s stock after selling 197 shares during the quarter. Seven Mile Advisory’s holdings in Citigroup were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Financial LLC increased its holdings in Citigroup by 9.3% during the 4th quarter. Summit Financial LLC now owns 14,926 shares of the company’s stock valued at $1,051,000 after acquiring an additional 1,264 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Citigroup by 6.4% in the fourth quarter. Alliancebernstein L.P. now owns 4,256,282 shares of the company’s stock valued at $299,600,000 after purchasing an additional 254,264 shares during the last quarter. AIA Group Ltd raised its position in shares of Citigroup by 43.9% during the 4th quarter. AIA Group Ltd now owns 100,298 shares of the company’s stock worth $7,060,000 after purchasing an additional 30,587 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Citigroup by 16.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 405,692 shares of the company’s stock worth $28,557,000 after acquiring an additional 56,432 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Citigroup by 23.6% in the 4th quarter. Clearbridge Investments LLC now owns 176,029 shares of the company’s stock valued at $12,391,000 after purchasing an additional 33,641 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’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 value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by company insiders.

Citigroup Trading Down 2.2 %

Shares of NYSE C opened at $70.28 on Monday. The stock has a market capitalization of $132.28 billion, a P/E ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43. The stock’s 50 day moving average price is $77.06 and its two-hundred day moving average price is $70.81. 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 Inc. has a 52-week low of $53.51 and a 52-week high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The business 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 company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. On average, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

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

Analysts Set New Price Targets

C has been the subject of several analyst reports. Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Oppenheimer cut their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Finally, Bank of America increased their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $84.50.

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.