RKL Wealth Management LLC Purchases New Holdings in Citigroup Inc. (NYSE:C)

RKL Wealth Management LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,962 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Machina Capital S.A.S. boosted its holdings in Citigroup by 26.9% during the fourth quarter. Machina Capital S.A.S. now owns 20,006 shares of the company’s stock valued at $1,408,000 after purchasing an additional 4,241 shares in the last quarter. Aviance Capital Partners LLC acquired a new stake in Citigroup during the fourth quarter valued at approximately $222,000. Oak Hill Wealth Advisors LLC boosted its holdings in Citigroup by 202.0% during the fourth quarter. Oak Hill Wealth Advisors LLC now owns 7,641 shares of the company’s stock valued at $538,000 after purchasing an additional 15,131 shares in the last quarter. Andra AP fonden boosted its holdings in Citigroup by 5.3% during the fourth quarter. Andra AP fonden now owns 266,500 shares of the company’s stock valued at $18,759,000 after purchasing an additional 13,300 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Citigroup in the 4th quarter worth approximately $3,423,000. 71.72% of the stock is currently owned by institutional investors.

Insider Transactions at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm’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 $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 in the last three months. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on C shares. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Evercore ISI upped their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $70.55 on Friday. The firm has a market cap of $132.94 billion, a PE ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.43. 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 Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a fifty day moving average price of $77.90 and a 200 day moving average price of $69.72.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the business posted $0.84 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. Citigroup’s dividend payout ratio is 37.65%.

Citigroup 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.