Brown Brothers Harriman & Co. Sells 313 Shares of Citigroup Inc. (NYSE:C)

Brown Brothers Harriman & Co. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,898 shares of the company’s stock after selling 313 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Citigroup were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Alternative Capital lifted its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the third quarter valued at about $31,000. Webster Bank N. A. boosted its holdings in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE C opened at $70.28 on Monday. The company has a market capitalization of $132.28 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company’s fifty day moving average price is $77.06 and its 200 day moving average price is $70.81. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C) last posted its earnings results 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 for the quarter, compared to analyst estimates 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 prior year, the company posted $0.84 EPS. On average, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on C. Evercore ISI boosted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Morgan Stanley dropped their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group decreased their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.