First Financial Bankshares Inc Has $47.06 Million Holdings in Citigroup Inc. (NYSE:C)

First Financial Bankshares Inc cut its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% in the fourth quarter, Holdings Channel reports. The firm owned 668,545 shares of the company’s stock after selling 10,643 shares during the quarter. First Financial Bankshares Inc’s holdings in Citigroup were worth $47,059,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brookstone Capital Management grew its stake in shares of Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares during the period. Inspire Trust Co. N.A. increased its holdings in shares of Citigroup by 34.8% in 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 in the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after acquiring an additional 8,301 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Citigroup by 12.7% in the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after acquiring an additional 22,657 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

C has been the subject of several recent analyst reports. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

Shares of NYSE C opened at $70.24 on Wednesday. The stock has a 50 day moving average price of $77.51 and a 200 day moving average price of $70.11. Citigroup Inc. has a 52 week low of $53.51 and a 52 week 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. The stock has a market capitalization of $132.37 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its quarterly 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 firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

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

Insider Activity

In other news, insider Sara Wechter sold 15,125 shares of the firm’s 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 of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % 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 valued at $8,523,149 over the last three months. Insiders own 0.08% of the company’s stock.

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.