Bellwether Advisors LLC Acquires Shares of 1,019 Citigroup Inc. (NYSE:C)

Bellwether Advisors LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,019 shares of the company’s stock, valued at approximately $72,000.

Several other large investors have also modified their holdings of the stock. Advisory Resource Group boosted its stake in Citigroup by 3.7% in the third quarter. Advisory Resource Group now owns 72,947 shares of the company’s stock valued at $4,566,000 after acquiring an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd boosted its position in Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company’s stock valued at $12,617,000 after purchasing an additional 12,810 shares during the period. Anchor Investment Management LLC boosted its position in Citigroup by 24.4% during the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company’s stock valued at $160,000 after purchasing an additional 501 shares during the period. World Investment Advisors LLC boosted its position in Citigroup by 36.6% during the 3rd quarter. World Investment Advisors LLC now owns 21,527 shares of the company’s stock valued at $1,348,000 after purchasing an additional 5,763 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in Citigroup by 432.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company’s stock valued at $2,391,000 after purchasing an additional 31,020 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.3 %

Shares of Citigroup stock opened at $68.25 on Tuesday. The stock’s fifty day moving average is $69.07 and its 200-day moving average is $71.17. The firm has a market capitalization of $128.46 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. 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 Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is currently 35.39%.

Insiders Place Their Bets

In other news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 transaction, the chief financial officer now 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 SEC, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % 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 valued at $8,523,149 in the last three months. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Bank of America reduced their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Piper Sandler reiterated an “overweight” rating and set a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Oppenheimer boosted their price target on Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.04.

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.