Intrust Bank NA Buys 1,176 Shares of Citigroup Inc. (NYSE:C)

Intrust Bank NA boosted its stake in Citigroup Inc. (NYSE:C) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,514 shares of the company’s stock after purchasing an additional 1,176 shares during the period. Intrust Bank NA’s holdings in Citigroup were worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in C. Glenmede Trust Co. NA raised its holdings in Citigroup by 8.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 192,927 shares of the company’s stock valued at $12,077,000 after buying an additional 14,858 shares during the last quarter. CreativeOne Wealth LLC increased its position in Citigroup by 216.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 11,986 shares of the company’s stock valued at $750,000 after acquiring an additional 8,197 shares during the period. Financial Counselors Inc. lifted its holdings in shares of Citigroup by 11.3% during the third quarter. Financial Counselors Inc. now owns 3,668 shares of the company’s stock worth $230,000 after purchasing an additional 372 shares during the period. Martingale Asset Management L P bought a new stake in shares of Citigroup in the third quarter worth $316,000. Finally, Atlantic Union Bankshares Corp increased its holdings in Citigroup by 15.4% in the third quarter. Atlantic Union Bankshares Corp now owns 34,598 shares of the company’s stock valued at $2,166,000 after purchasing an additional 4,630 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on C. StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Sunday. The Goldman Sachs Group reduced their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % 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 business’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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Down 2.2 %

C stock opened at $70.28 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock’s 50 day simple moving average is $77.06 and its 200 day simple moving average is $70.72. The company has a market cap of $132.28 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. On average, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.19%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is 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.