Savvy Advisors Inc. Sells 1,495 Shares of Citigroup Inc. (NYSE:C)

Savvy Advisors Inc. lessened its position in Citigroup Inc. (NYSE:C) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,461 shares of the company’s stock after selling 1,495 shares during the quarter. Savvy Advisors Inc.’s holdings in Citigroup were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of C. 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 valued at $26,000 after acquiring an additional 171 shares during the period. Webster Bank N. A. boosted its holdings in 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 period. Creative Capital Management Investments LLC acquired a new stake in Citigroup in the 4th quarter worth $35,000. Sierra Ocean LLC bought a new position in shares of Citigroup during the 4th quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Buying and Selling

In related news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated 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 completion of the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated 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 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 a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on C shares. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Morgan Stanley decreased their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. StockNews.com cut Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Evercore ISI lowered their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America reduced their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.54.

Citigroup Price Performance

Shares of Citigroup stock opened at $61.73 on Monday. The stock has a market capitalization of $116.19 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.64 and a beta of 1.29. The firm’s 50-day moving average price is $72.91 and its two-hundred day moving average price is $71.01. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74.

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

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. Citigroup’s dividend payout ratio is 37.65%.

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.