Schechter Investment Advisors LLC Sells 374 Shares of Citigroup Inc. (NYSE:C)

Schechter Investment Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,382 shares of the company’s stock after selling 374 shares during the period. Schechter Investment Advisors LLC’s holdings in Citigroup were worth $1,646,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of C. Swedbank AB boosted its stake in Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Citigroup by 8.2% in the third quarter. Farther Finance Advisors LLC now owns 22,313 shares of the company’s stock valued at $1,397,000 after purchasing an additional 1,683 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in shares of Citigroup during the third quarter valued at approximately $264,000. Van ECK Associates Corp grew its holdings in Citigroup by 23.0% during the third quarter. Van ECK Associates Corp now owns 362,931 shares of the company’s stock worth $22,901,000 after buying an additional 67,768 shares in the last quarter. Finally, BSW Wealth Partners raised its position in Citigroup by 4.1% in the 3rd quarter. BSW Wealth Partners now owns 7,902 shares of the company’s stock valued at $495,000 after buying an additional 308 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on C shares. Truist Financial initiated coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Down 3.5 %

Citigroup stock opened at $77.14 on Tuesday. 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 fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock has a market cap of $145.37 billion, a P/E ratio of 12.96, a PEG ratio of 0.64 and a beta of 1.44. The firm’s fifty day moving average price is $77.87 and its 200-day moving average price is $69.49.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the business earned $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.90%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its board has initiated a share repurchase 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 typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were 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 directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently 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.