Cary Street Partners Financial LLC Invests $1.84 Million in Citigroup Inc. (NYSE:C)

Cary Street Partners Financial LLC acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,201 shares of the company's stock, valued at approximately $1,844,000.

Several other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock worth $24,844,000 after acquiring an additional 11,674 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company's stock worth $2,536,000 after acquiring an additional 27,856 shares during the period. Invesco Ltd. increased its holdings in Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after acquiring an additional 1,970,300 shares during the period. FNY Investment Advisers LLC boosted its stake in Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company's stock valued at $1,376,000 after buying an additional 12,280 shares during the period. Finally, Candriam S.C.A. raised its holdings in shares of Citigroup by 12.7% in the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock valued at $14,139,000 after acquiring an additional 22,657 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other Citigroup 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 transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,007 shares of company stock valued at $8,824,653 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Down 0.3 %

Shares of NYSE:C traded down $0.25 during trading on Friday, hitting $71.39. 8,938,912 shares of the company were exchanged, compared to its average volume of 14,403,729. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $134.37 billion, a P/E ratio of 12.00, a PEG ratio of 0.64 and a beta of 1.30. The firm's 50 day moving average price is $67.56 and its 200-day moving average price is $71.46. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 35.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on C shares. Oppenheimer raised their price target on Citigroup from $91.00 to $94.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Truist Financial reduced their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI lowered their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Piper Sandler reissued an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Bank of America lowered their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.04.

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.