Transce3nd LLC Purchases New Position in Citigroup Inc. (NYSE:C)

Transce3nd LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, Holdings Channel.com reports. The firm acquired 8,955 shares of the company’s stock, valued at approximately $632,000.

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

Analysts Set New Price Targets

C has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced 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. Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Bank of America lowered their price target 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. Royal Bank of Canada decreased their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $84.61.

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the 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 transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This 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 is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Performance

Shares of C opened at $63.23 on Friday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a market cap of $119.01 billion, a PE ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. The stock has a 50-day moving average of $71.12 and a 200-day moving average of $70.98. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

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, topping the consensus estimate of $1.84 by $0.12. The business 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%. On average, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup’s payout ratio is 35.39%.

Citigroup announced that its Board of Directors has initiated a share 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 repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is 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.