Thoroughbred Financial Services LLC Trims Position in Citigroup Inc. (NYSE:C)

Thoroughbred Financial Services LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,850 shares of the company’s stock after selling 460 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Citigroup were worth $1,608,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Core Alternative Capital increased its stake in shares of Citigroup by 83.4% during 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 period. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the 3rd quarter valued at approximately $31,000. Webster Bank N. A. increased its position in Citigroup by 150.0% during the 4th 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 period. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on C. Bank of America dropped their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. The Goldman Sachs Group decreased their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.23.

Insider Activity at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Citigroup Trading Down 8.0 %

Citigroup stock opened at $58.00 on Friday. The stock has a market cap of $109.17 billion, a PE ratio of 9.75, a P/E/G 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. The stock has a 50-day moving average price of $75.61 and a 200 day moving average price of $70.95. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is currently 37.65%.

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

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.