Citigroup Inc. (NYSE:C) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in shares of Citigroup Inc. (NYSE:C) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,038 shares of the company’s stock after selling 1,626 shares during the period. King Luther Capital Management Corp’s holdings in Citigroup were worth $13,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Swedbank AB raised its position in shares of 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 buying an additional 54,782 shares during the period. Sigma Planning Corp increased its stake in Citigroup by 4.0% during the third quarter. Sigma Planning Corp now owns 16,987 shares of the company’s stock worth $1,063,000 after acquiring an additional 656 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Citigroup in the third quarter valued at $75,000. Catalytic Wealth RIA LLC lifted its stake in shares of Citigroup by 14.4% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 8,769 shares of the company’s stock valued at $549,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Citigroup by 9.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock valued at $128,000 after purchasing an additional 175 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on C. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Insiders Place Their Bets

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents 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 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Up 0.2 %

Shares of NYSE C opened at $67.56 on Wednesday. The stock has a market cap of $127.32 billion, a P/E ratio of 11.35, a PEG ratio of 0.64 and a beta of 1.43. The business’s fifty day simple moving average is $77.78 and its 200-day simple moving average is $69.87. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted 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 company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the company earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.32%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its board has authorized a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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.