Family Management Corp Purchases 3,860 Shares of Citigroup Inc. (NYSE:C)

Family Management Corp lifted its position in Citigroup Inc. (NYSE:C - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,658 shares of the company's stock after buying an additional 3,860 shares during the period. Citigroup comprises 0.9% of Family Management Corp's holdings, making the stock its 24th largest position. Family Management Corp's holdings in Citigroup were worth $5,798,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of Citigroup by 11.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,728,261 shares of the company's stock worth $233,389,000 after acquiring an additional 383,534 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $4,710,000. Fortitude Family Office LLC lifted its position in shares of Citigroup by 19.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,519 shares of the company's stock worth $107,000 after purchasing an additional 249 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in Citigroup by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 5,348 shares of the company's stock worth $376,000 after acquiring an additional 236 shares during the period. Finally, HBW Advisory Services LLC lifted its stake in Citigroup by 1.2% in the fourth quarter. HBW Advisory Services LLC now owns 48,482 shares of the company's stock valued at $3,413,000 after buying an additional 584 shares during the period. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Citigroup from a "buy" rating to a "hold" rating in a report on Sunday, March 30th. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Oppenheimer raised their price target on Citigroup from $91.00 to $94.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. The Goldman Sachs Group decreased their target price on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.04.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,007 shares of company stock worth $8,824,653. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

Shares of NYSE C traded down $0.25 during midday trading on Friday, hitting $71.39. The company had a trading volume of 8,938,912 shares, compared to its average volume of 14,423,227. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The firm has a market capitalization of $134.37 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The business has a 50-day simple moving average of $67.56 and a two-hundred day simple moving average of $71.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. Citigroup's dividend payout ratio is currently 35.39%.

Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes 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.

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.