Elkhorn Partners Limited Partnership Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

Elkhorn Partners Limited Partnership lessened its position in Citigroup Inc. (NYSE:C) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company’s stock after selling 200 shares during the quarter. Citigroup comprises 0.3% of Elkhorn Partners Limited Partnership’s holdings, making the stock its 12th largest position. Elkhorn Partners Limited Partnership’s holdings in Citigroup were worth $493,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CreativeOne Wealth LLC grew its stake in Citigroup by 32.5% during the 4th quarter. CreativeOne Wealth LLC now owns 15,882 shares of the company’s stock valued at $1,118,000 after acquiring an additional 3,896 shares in the last quarter. Mariner LLC boosted its holdings in shares of Citigroup by 4.5% during the 4th quarter. Mariner LLC now owns 403,987 shares of the company’s stock worth $28,437,000 after purchasing an additional 17,350 shares during the last quarter. SageView Advisory Group LLC grew its position in shares of Citigroup by 7.8% in the fourth quarter. SageView Advisory Group LLC now owns 9,565 shares of the company’s stock valued at $673,000 after purchasing an additional 688 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $845,000. Finally, Fiducient Advisors LLC lifted its position in Citigroup by 2.7% during the fourth quarter. Fiducient Advisors LLC now owns 6,735 shares of the company’s stock worth $474,000 after buying an additional 178 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on 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 owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the company’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 directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on C shares. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial decreased their target price on shares of Citigroup from $85.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, April 4th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Evercore ISI decreased their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. cut their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $84.54.

Citigroup Stock Up 0.2 %

Citigroup stock opened at $61.73 on Monday. The stock’s fifty day simple moving average is $72.91 and its 200-day simple moving average is $71.01. 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 capitalization of $116.19 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.63%. Citigroup’s dividend payout ratio is currently 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.