Citigroup Inc. (NYSE:C) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 56.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,199 shares of the company’s stock after selling 9,202 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Citigroup were worth $507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in C. Core Alternative Capital boosted its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup during the 3rd quarter worth about $31,000. Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new stake in Citigroup in the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last three months. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on C shares. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Trading Up 2.4 %

NYSE C opened at $68.84 on Friday. The stock has a market cap of $129.73 billion, a P/E ratio of 11.57, a PEG ratio of 0.64 and a beta of 1.43. The company’s fifty day simple moving average is $77.63 and its 200-day simple moving average is $69.89. 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 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last issued 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. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 yield of 3.25%. Citigroup’s dividend payout ratio (DPR) is presently 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.