HighPoint Advisor Group LLC Sells 468 Shares of Citigroup Inc. (NYSE:C)

HighPoint Advisor Group LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,620 shares of the company’s stock after selling 468 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Citigroup were worth $1,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Core Alternative Capital boosted its stake in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new position in Citigroup in the 3rd quarter worth approximately $31,000. Webster Bank N. A. grew its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Citigroup in the fourth quarter worth $37,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Citigroup Stock Performance

Shares of NYSE:C opened at $71.08 on Tuesday. 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 Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a market capitalization of $133.78 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.64 and a beta of 1.43. The firm’s 50-day moving average is $76.88 and its 200 day moving average is $70.91.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating 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 firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup declared that its board has initiated a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction on Friday, February 14th. The stock was 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 $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 available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,590 shares of company stock worth $8,523,149. 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.