Synovus Financial Corp Sells 1,169 Shares of Citigroup Inc. (NYSE:C)

Synovus Financial Corp decreased its position in shares of Citigroup Inc. (NYSE:C) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,053 shares of the company’s stock after selling 1,169 shares during the period. Synovus Financial Corp’s holdings in Citigroup were worth $7,184,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after buying an additional 11,674 shares during the last quarter. Brookstone Capital Management grew its position in Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. increased its stake in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after acquiring an additional 20,000 shares during the last quarter. Invesco Ltd. raised its position in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Finally, FNY Investment Advisers LLC lifted its stake in shares of Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 0.2 %

NYSE C opened at $61.73 on Monday. The company’s 50-day simple moving average is $72.91 and its two-hundred day simple moving average is $71.01. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a market capitalization of $116.19 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the business posted $0.84 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is currently 37.65%.

Insider Buying and Selling

In related news, insider Sara Wechter sold 15,125 shares of the business’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 directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the 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 completion of the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

C has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $84.54.

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.