Anand Selvakesari Sells 30,000 Shares of Citigroup Inc. (NYSE:C) Stock

Citigroup Inc. (NYSE:C) COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Citigroup Trading Down 0.8 %

Citigroup stock opened at $83.94 on Thursday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a market cap of $158.74 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $76.43 and a two-hundred day simple moving average of $68.23.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Core Alternative Capital raised its stake in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the third quarter worth $28,000. Orion Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup during the 3rd quarter valued at $31,000. Finally, Webster Bank N. A. boosted its holdings in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on C. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price 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.