TCTC Holdings LLC Has $170,000 Holdings in Citigroup Inc. (NYSE:C)

TCTC Holdings LLC raised its position in Citigroup Inc. (NYSE:C) by 62.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,417 shares of the company’s stock after buying an additional 930 shares during the period. TCTC Holdings LLC’s holdings in Citigroup were worth $170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Core Alternative Capital boosted its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the third quarter worth approximately $31,000. Webster Bank N. A. lifted its position in shares of 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 purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new position in shares of Citigroup during the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup during the fourth quarter worth approximately $37,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley upped their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Bank of America increased their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 1.7 %

Shares of NYSE:C opened at $69.96 on Tuesday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $131.84 billion, a PE ratio of 11.76, a PEG ratio of 0.64 and a beta of 1.43. The company has a 50 day moving average price of $77.58 and a two-hundred day moving average price of $70.06.

Citigroup (NYSE:C) last issued its 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. 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 the consensus estimate of $19.51 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

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.