Simmons Bank Lowers Stock Position in Citigroup Inc. (NYSE:C)

Simmons Bank trimmed its position in Citigroup Inc. (NYSE:C) by 3.7% in the 4th quarter, HoldingsChannel reports. The fund owned 7,743 shares of the company’s stock after selling 294 shares during the quarter. Simmons Bank’s holdings in Citigroup were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its stake in Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the last quarter. Avitas Wealth Management LLC raised its stake in shares of Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after acquiring an additional 143 shares in the last quarter. NTV Asset Management LLC lifted its position in Citigroup by 2.5% during the fourth quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock valued at $429,000 after acquiring an additional 148 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its stake in Citigroup by 0.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.2 %

Shares of NYSE:C opened at $78.91 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The business has a 50 day moving average of $77.51 and a two-hundred day moving average of $69.08. The company has a market capitalization of $149.24 billion, a PE ratio of 13.26, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released 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 net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.84%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its Board of Directors has authorized a stock repurchase program 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 programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

C has been the subject of several analyst reports. Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were 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. The trade was a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. 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.