Citigroup Inc. (NYSE:C) Shares Sold by Prana Capital Management LP

Prana Capital Management LP trimmed its stake in Citigroup Inc. (NYSE:C) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,501,484 shares of the company’s stock after selling 165,362 shares during the period. Citigroup comprises about 5.0% of Prana Capital Management LP’s investment portfolio, making the stock its 4th biggest position. Prana Capital Management LP owned about 0.08% of Citigroup worth $105,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in C. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $35,000. Webster Bank N. A. raised its holdings in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Citigroup during the 4th quarter worth approximately $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Citigroup during the fourth quarter worth $39,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Royal Bank of Canada reduced their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.04.

Citigroup Stock Down 0.5%

NYSE:C opened at $75.22 on Thursday. 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. The stock’s fifty day simple moving average is $67.79 and its 200-day simple moving average is $71.72. The firm has a market capitalization of $141.58 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.64 and a beta of 1.30.

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

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Citigroup announced that its board has approved a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were 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 directly owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

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.