Citigroup Inc. (NYSE:C) Shares Purchased by TrueMark Investments LLC

TrueMark Investments LLC raised its stake in Citigroup Inc. (NYSE:C) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,745 shares of the company’s stock after purchasing an additional 5,981 shares during the quarter. Citigroup comprises approximately 1.6% of TrueMark Investments LLC’s holdings, making the stock its 22nd biggest holding. TrueMark Investments LLC’s holdings in Citigroup were worth $4,980,000 at the end of the most recent reporting period.

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

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, 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. Over the last ninety days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

Shares of C opened at $74.43 on Wednesday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $140.09 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.64 and a beta of 1.43. The stock has a 50 day moving average of $77.50 and a 200-day moving average of $70.53.

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

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. 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 3.01%. Citigroup’s payout ratio is currently 37.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on C shares. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler reissued 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. The Goldman Sachs Group lowered their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.53.

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.