Citigroup Inc. (NYSE:C) Shares Sold by Scott & Selber Inc.

Scott & Selber Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 80,516 shares of the company’s stock after selling 1,414 shares during the period. Citigroup accounts for about 1.7% of Scott & Selber Inc.’s holdings, making the stock its 12th biggest position. Scott & Selber Inc.’s holdings in Citigroup were worth $5,668,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in Citigroup during the third quarter worth approximately $31,000. Webster Bank N. A. boosted its holdings 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 acquired a new position in shares of Citigroup in the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. 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 report on Thursday, January 16th. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling at Citigroup

In other Citigroup news, 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 transaction of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Performance

Citigroup stock opened at $77.14 on Tuesday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $145.37 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The stock has a 50 day moving average of $77.87 and a 200-day moving average of $69.49.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

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

Citigroup Company 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.