Citigroup Inc. (NYSE:C) Shares Sold by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,655 shares of the company’s stock after selling 2,016 shares during the period. Citigroup makes up 0.9% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 28th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Citigroup were worth $9,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Alternative Capital boosted its stake 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 during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $31,000. Webster Bank N. A. lifted its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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 $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 103,590 shares of company stock valued at $8,523,149 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. 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 reiterated an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Up 2.4 %

C opened at $68.84 on Monday. The firm has a 50 day moving average price of $77.63 and a 200 day moving average price of $70.00. The company has a market cap of $129.73 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. 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 posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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.