Blackston Financial Advisory Group LLC Boosts Stake in Citigroup Inc. (NYSE:C)

Blackston Financial Advisory Group LLC raised its holdings in Citigroup Inc. (NYSE:C) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,636 shares of the company’s stock after acquiring an additional 166 shares during the period. Blackston Financial Advisory Group LLC’s holdings in Citigroup were worth $326,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Brookstone Capital Management grew its position in Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. lifted its stake in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after buying an additional 20,291 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on C. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Oppenheimer lowered their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Bank of America increased their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Down 2.1 %

Shares of Citigroup stock opened at $79.65 on Friday. The company has a 50-day simple moving average of $76.80 and a two-hundred day simple moving average of $68.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The stock has a market capitalization of $150.63 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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.