CoreCap Advisors LLC Has $391,000 Stock Holdings in Citigroup Inc. (NYSE:C)

CoreCap Advisors LLC grew its stake in Citigroup Inc. (NYSE:C) by 76.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,560 shares of the company’s stock after buying an additional 2,410 shares during the period. CoreCap Advisors LLC’s holdings in Citigroup were worth $391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Baker Tilly Wealth Management LLC increased its position in shares of Citigroup by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 5,348 shares of the company’s stock valued at $376,000 after buying an additional 236 shares in the last quarter. Graypoint LLC increased its holdings in shares of Citigroup by 19.0% in the fourth quarter. Graypoint LLC now owns 13,177 shares of the company’s stock worth $928,000 after acquiring an additional 2,100 shares in the last quarter. Czech National Bank raised its position in shares of Citigroup by 5.5% during the fourth quarter. Czech National Bank now owns 410,064 shares of the company’s stock worth $28,864,000 after purchasing an additional 21,426 shares during the period. Aprio Wealth Management LLC lifted its holdings in shares of Citigroup by 50.7% during the 4th quarter. Aprio Wealth Management LLC now owns 4,936 shares of the company’s stock valued at $347,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Matrix Trust Co increased its stake in Citigroup by 491.7% during the 4th quarter. Matrix Trust Co now owns 1,355 shares of the company’s stock worth $95,000 after purchasing an additional 1,126 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,007 shares of company stock valued at $8,824,653 in the last three months. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

C opened at $71.39 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $134.37 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The business has a 50 day moving average of $67.56 and a 200-day moving average of $71.51.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. On average, equities research analysts expect 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 plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.14%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on C shares. Truist Financial cut their price target on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Morgan Stanley cut their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Evercore ISI decreased their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

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.