GC Wealth Management RIA LLC Has $636,000 Stock Position in Citigroup Inc. (NYSE:C)

GC Wealth Management RIA LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,033 shares of the company’s stock after purchasing an additional 264 shares during the period. GC Wealth Management RIA LLC’s holdings in Citigroup were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Staley Capital Advisers Inc. grew its holdings in shares of Citigroup by 1.4% in the fourth quarter. Staley Capital Advisers Inc. now owns 339,082 shares of the company’s stock valued at $23,868,000 after acquiring an additional 4,754 shares in the last quarter. Cornerstone Advisors LLC grew its holdings in shares of Citigroup by 67.2% in the fourth quarter. Cornerstone Advisors LLC now owns 160,700 shares of the company’s stock valued at $11,312,000 after acquiring an additional 64,600 shares in the last quarter. Sage Mountain Advisors LLC grew its holdings in shares of Citigroup by 13.2% in the fourth quarter. Sage Mountain Advisors LLC now owns 10,674 shares of the company’s stock valued at $751,000 after acquiring an additional 1,245 shares in the last quarter. Net Worth Advisory Group bought a new position in shares of Citigroup in the fourth quarter valued at approximately $229,000. Finally, Dearborn Partners LLC grew its holdings in shares of Citigroup by 14.1% in the fourth quarter. Dearborn Partners LLC now owns 8,115 shares of the company’s stock valued at $571,000 after acquiring an additional 1,000 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of the business’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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were 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 approximately $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

Citigroup Trading Up 0.2 %

NYSE C opened at $67.56 on Wednesday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year 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 stock has a 50-day moving average of $77.78 and a 200-day moving average of $69.87. The firm has a market cap of $127.32 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released 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 quarter in the previous year, the company posted $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side 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 plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.