Pavion Blue Capital LLC Invests $206,000 in Citigroup Inc. (NYSE:C)

Pavion Blue Capital LLC bought a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,933 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds have also added to or reduced their stakes in C. AMF Tjanstepension AB bought a new stake in Citigroup in the third quarter worth approximately $4,607,000. Swedbank AB increased its holdings in Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after purchasing an additional 54,782 shares in the last quarter. Eastern Bank acquired a new stake in Citigroup in the third quarter valued at approximately $87,000. CENTRAL TRUST Co grew its stake in Citigroup by 920.4% in the third quarter. CENTRAL TRUST Co now owns 18,184 shares of the company’s stock valued at $1,138,000 after acquiring an additional 16,402 shares during the period. Finally, Ballentine Partners LLC grew its stake in Citigroup by 49.1% in the third quarter. Ballentine Partners LLC now owns 22,460 shares of the company’s stock valued at $1,406,000 after acquiring an additional 7,392 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

Shares of Citigroup stock opened at $79.65 on Friday. The business’s fifty day simple moving average is $76.80 and its 200 day simple moving average is $68.56. The firm has a market capitalization of $150.63 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. 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 issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion for 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%. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. As a group, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by company insiders.

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.