BankPlus Trust Department Makes New Investment in Citigroup Inc. (NYSE:C)

BankPlus Trust Department bought a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 895 shares of the company’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Impax Asset Management Group plc lifted its position in shares of Citigroup by 17.6% during the 4th quarter. Impax Asset Management Group plc now owns 182,357 shares of the company’s stock valued at $12,836,000 after buying an additional 27,322 shares in the last quarter. Skylands Capital LLC lifted its position in shares of Citigroup by 2.4% during the 4th quarter. Skylands Capital LLC now owns 136,775 shares of the company’s stock valued at $9,628,000 after buying an additional 3,150 shares in the last quarter. Wealthstream Advisors Inc. purchased a new position in shares of Citigroup during the 4th quarter valued at about $315,000. IFP Advisors Inc lifted its position in shares of Citigroup by 6.8% during the 4th quarter. IFP Advisors Inc now owns 52,535 shares of the company’s stock valued at $3,698,000 after buying an additional 3,323 shares in the last quarter. Finally, WealthShield Partners LLC lifted its position in shares of Citigroup by 3.4% during the 4th quarter. WealthShield Partners LLC now owns 41,281 shares of the company’s stock valued at $2,906,000 after buying an additional 1,362 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 in the last quarter. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

NYSE C opened at $78.15 on Wednesday. The company has a market cap of $147.80 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50 day moving average price is $77.08 and its 200-day moving average price is $68.94. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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.