Citigroup Inc. (NYSE:C) Shares Sold by Cowa LLC

Cowa LLC reduced its position in Citigroup Inc. (NYSE:C) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,010 shares of the company’s stock after selling 600 shares during the period. Cowa LLC’s holdings in Citigroup were worth $457,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of C. Core Alternative Capital increased 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 in the last quarter. Legacy Investment Solutions LLC purchased a new position in Citigroup during the third quarter worth $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 buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in Citigroup during the fourth quarter worth $35,000. Finally, GHP Investment Advisors Inc. increased its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insider Activity at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 over the last three months. 0.08% of the stock is owned by insiders.

Citigroup Stock Down 2.1 %

Shares of NYSE C opened at $79.65 on Friday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.66 and a beta of 1.44. 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 stock’s 50-day simple moving average is $76.80 and its 200-day simple moving average is $68.48.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.