Gallacher Capital Management LLC Has $650,000 Stock Holdings in Citigroup Inc. (NYSE:C)

Gallacher Capital Management LLC raised its holdings in Citigroup Inc. (NYSE:C) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,229 shares of the company’s stock after acquiring an additional 628 shares during the quarter. Gallacher Capital Management LLC’s holdings in Citigroup were worth $650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Core Alternative Capital lifted its holdings in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter worth $31,000. Webster Bank N. A. lifted its stake in shares of 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 buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter worth $37,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on C. The Goldman Sachs Group boosted their target price 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. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley upped their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

Shares of C opened at $68.84 on Friday. The firm has a market capitalization of $129.73 billion, a PE ratio of 11.57, a P/E/G ratio of 0.64 and a beta of 1.43. 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 50 day simple moving average of $77.63 and a 200 day simple moving average of $69.94.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup announced that its board has approved a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated 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 owns 109,780 shares of the company’s stock, valued at approximately $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 sold a total of 103,590 shares of company stock valued at $8,523,149 in the last quarter. 0.08% of the stock is currently owned by insiders.

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.