Elgethun Capital Management Has $11.16 Million Stake in Citigroup Inc. (NYSE:C)

Elgethun Capital Management raised its holdings in Citigroup Inc. (NYSE:C) by 102.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,599 shares of the company’s stock after buying an additional 80,271 shares during the period. Citigroup comprises approximately 2.7% of Elgethun Capital Management’s investment portfolio, making the stock its 9th biggest holding. Elgethun Capital Management’s holdings in Citigroup were worth $11,164,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Core Alternative Capital boosted its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the third quarter valued at about $31,000. Webster Bank N. A. increased its position in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the period. Creative Capital Management Investments LLC acquired a new stake in Citigroup in the 4th quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new stake in Citigroup in the 4th quarter valued at about $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Citigroup stock opened at $58.00 on Monday. The stock’s 50 day moving average is $75.61 and its 200 day moving average is $71.11. 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 one year low of $53.51 and a one year high of $84.74. The firm has a market cap of $109.17 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. Citigroup’s revenue was up 12.3% on a year-over-year basis. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

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

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

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Keefe, Bruyette & Woods lifted their price objective 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. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.23.

Insiders Place Their Bets

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate 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.