Y Intercept Hong Kong Ltd Sells 17,794 Shares of Citigroup Inc. (NYSE:C)

Y Intercept Hong Kong Ltd decreased its stake in shares of Citigroup Inc. (NYSE:C) by 24.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 55,771 shares of the company’s stock after selling 17,794 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Citigroup were worth $3,926,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of C. AMF Tjanstepension AB bought a new stake in Citigroup in the 3rd quarter valued at about $4,607,000. Swedbank AB boosted its holdings in Citigroup by 1.3% in the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares during the period. Allworth Financial LP boosted its holdings in Citigroup by 6.0% in the 3rd quarter. Allworth Financial LP now owns 33,800 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,909 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Citigroup by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 210,560 shares of the company’s stock valued at $13,027,000 after purchasing an additional 39,991 shares during the period. Finally, Arkadios Wealth Advisors boosted its holdings in Citigroup by 54.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 27,655 shares of the company’s stock valued at $1,731,000 after purchasing an additional 9,777 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $79.65 on Monday. 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 1 year low of $53.51 and a 1 year high of $84.74. The company has a 50 day simple moving average of $76.80 and a 200 day simple moving average of $68.65. The stock has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.64 and a beta of 1.44.

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, beating 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 firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has approved a share 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 repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

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

Insider Buying and Selling at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, 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 ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.