Berkeley Capital Partners LLC Purchases 18,339 Shares of Citigroup Inc. (NYSE:C)

Berkeley Capital Partners LLC grew its position in Citigroup Inc. (NYSE:C) by 374.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,243 shares of the company’s stock after acquiring an additional 18,339 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Citigroup were worth $1,636,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Swedbank AB lifted 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 worth $274,115,000 after buying an additional 54,782 shares during the period. Empowered Funds LLC lifted its position in shares of Citigroup by 9.7% during the 3rd quarter. Empowered Funds LLC now owns 41,171 shares of the company’s stock worth $2,577,000 after buying an additional 3,630 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Citigroup by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 145,663 shares of the company’s stock worth $9,118,000 after buying an additional 3,482 shares during the period. Pathstone Holdings LLC lifted its position in shares of Citigroup by 2.8% during the 3rd quarter. Pathstone Holdings LLC now owns 149,742 shares of the company’s stock worth $9,374,000 after buying an additional 4,051 shares during the period. Finally, Caprock Group LLC lifted its position in shares of Citigroup by 2.5% during the 3rd quarter. Caprock Group LLC now owns 63,162 shares of the company’s stock worth $3,954,000 after buying an additional 1,517 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on C. Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Morgan Stanley cut their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.53.

Insider Buying and Selling

In other Citigroup news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated 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 transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Up 1.7 %

NYSE C opened at $71.43 on Thursday. 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 fifty day moving average of $77.47 and a 200-day moving average of $70.12. The stock has a market capitalization of $134.61 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping 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 business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has authorized a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.