Access Investment Management LLC Sells 2,000 Shares of Citigroup Inc. (NYSE:C)

Access Investment Management LLC reduced its position in Citigroup Inc. (NYSE:C) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,000 shares of the company’s stock after selling 2,000 shares during the quarter. Citigroup makes up 2.3% of Access Investment Management LLC’s portfolio, making the stock its 14th largest holding. Access Investment Management LLC’s holdings in Citigroup were worth $8,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management lifted its position in Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after purchasing an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares during the period. Avitas Wealth Management LLC lifted its position in Citigroup by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after purchasing an additional 143 shares during the period. NTV Asset Management LLC lifted its position in Citigroup by 2.5% in the fourth quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock worth $429,000 after purchasing an additional 148 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its position in Citigroup by 0.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after purchasing an additional 150 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

Shares of NYSE:C opened at $79.65 on Friday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The firm has a market cap of $150.63 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.64 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 business has a fifty day moving average of $76.80 and a 200-day moving average of $68.56.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating 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 company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The company 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 $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 is 37.65%.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was 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 owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on C shares. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. The Goldman Sachs Group increased their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Four investment 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, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target 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.