Citigroup Inc. (NYSE:C) Shares Sold by Comerica Bank

Comerica Bank lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 525,941 shares of the company's stock after selling 22,908 shares during the period. Comerica Bank's holdings in Citigroup were worth $37,021,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the fourth 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. raised its stake in 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 Citigroup in the 4th quarter valued at $35,000. Sierra Ocean LLC acquired a new stake in Citigroup during the 4th quarter worth $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth $39,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Trading Up 3.6 %

C traded up $2.43 during mid-day trading on Friday, hitting $70.57. 13,286,259 shares of the stock were exchanged, compared to its average volume of 14,435,626. The firm's fifty day moving average is $68.24 and its two-hundred day moving average is $71.25. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a market cap of $132.82 billion, a PE ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.29. 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 (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) 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 analysts' expectations of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes 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 of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the business'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 transaction of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company's stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,007 shares of company stock valued at $8,824,653 in the last three months. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

C has been the subject of several research reports. Truist Financial dropped their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Evercore ISI cut their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $84.04.

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.