First National Trust Co Decreases Stake in Citigroup Inc. (NYSE:C)

First National Trust Co cut its holdings in shares of Citigroup Inc. (NYSE:C) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,774 shares of the company’s stock after selling 1,007 shares during the period. First National Trust Co’s holdings in Citigroup were worth $1,392,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of C. Core Alternative Capital lifted its stake in Citigroup by 83.4% during the 4th 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 period. Legacy Investment Solutions LLC bought a new position in Citigroup during the third quarter valued at approximately $31,000. Webster Bank N. A. boosted its holdings in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new stake in Citigroup during the 4th quarter valued at $37,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on C. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Buying and Selling at Citigroup

In related 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 value of $1,225,276.25. Following the sale, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 in the last 90 days. Insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $68.84 on Friday. The business has a 50-day moving average price of $77.63 and a 200-day moving average price of $69.89. The firm has a market cap of $129.73 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. 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) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during 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 firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. As a group, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has initiated a share repurchase plan 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 plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.