Teacher Retirement System of Texas Increases Stake in Citigroup Inc. (NYSE:C)

Teacher Retirement System of Texas grew its position in shares of Citigroup Inc. (NYSE:C) by 88.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 721,835 shares of the company’s stock after buying an additional 338,602 shares during the quarter. Teacher Retirement System of Texas’ holdings in Citigroup were worth $50,810,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Core Alternative Capital raised its position in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup in the 3rd quarter valued at about $31,000. Webster Bank N. A. increased its holdings in shares of Citigroup by 150.0% in the 4th 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 purchased a new position in shares of Citigroup in the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Citigroup in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on C shares. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer cut their price target 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. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Morgan Stanley cut their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $83.53.

Citigroup Stock Performance

Shares of NYSE C opened at $71.80 on Friday. The company has a market cap of $135.31 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50-day simple moving average of $77.45 and a 200-day simple moving average of $70.13.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.12%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $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 worth $8,523,149 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.