Stokes Family Office LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Stokes Family Office LLC bought a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,456 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Core Alternative Capital lifted its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the third quarter valued at about $31,000. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $37,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Bank of America upped their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group dropped their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.53.

Insiders Place Their Bets

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, 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. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $71.43 on Thursday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock’s 50 day moving average is $77.47 and its 200-day moving average is $70.12. 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 company has a market capitalization of $134.61 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

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

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.