Berkshire Hathaway Inc decreased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 73.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,639,502 shares of the company's stock after selling 40,605,295 shares during the period. Citigroup makes up approximately 0.4% of Berkshire Hathaway Inc's investment portfolio, making the stock its 21st biggest position. Berkshire Hathaway Inc owned 0.77% of Citigroup worth $1,030,475,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in C. Core Alternative Capital lifted its holdings in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after acquiring an additional 171 shares during the last quarter. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup in the 4th quarter worth approximately $35,000. Sierra Ocean LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Citigroup during the 4th quarter valued at $39,000. 71.72% of the stock is owned by institutional investors.
Citigroup Stock Up 1.2 %
Shares of C traded up $0.83 during mid-day trading on Wednesday, hitting $70.30. The company's stock had a trading volume of 11,619,147 shares, compared to its average volume of 14,402,420. The firm has a market capitalization of $132.32 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.64 and a beta of 1.30. The company's 50-day moving average is $67.87 and its 200-day moving average is $71.34. 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 52-week low of $53.51 and a 52-week high of $84.74.
Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.
Citigroup announced that its board has approved a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Citigroup Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given 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 is Monday, May 5th. Citigroup's payout ratio is 35.39%.
Insider Buying and Selling at Citigroup
In other Citigroup news, 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 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 approximately $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 can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,007 shares of company stock valued at $8,824,653. 0.08% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. The Goldman Sachs Group decreased their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Evercore ISI cut their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Truist Financial decreased their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada reduced their target price on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.04.
View Our Latest Stock Analysis on C
Citigroup Profile
(
Free Report)
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.
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