Citigroup Inc. (NYSE:C) Position Boosted by Glenview Trust co

Glenview Trust co boosted its position in Citigroup Inc. (NYSE:C) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,675 shares of the company’s stock after buying an additional 2,261 shares during the quarter. Glenview Trust co’s holdings in Citigroup were worth $15,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its holdings in Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after purchasing an additional 54,782 shares during the period. Zions Bancorporation N.A. raised its stake in Citigroup by 17.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 4,279 shares of the company’s stock valued at $268,000 after acquiring an additional 621 shares in the last quarter. Intellectus Partners LLC lifted its holdings in Citigroup by 57.6% in the third quarter. Intellectus Partners LLC now owns 9,780 shares of the company’s stock worth $612,000 after purchasing an additional 3,574 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Citigroup by 8.0% in the third quarter. CIBC Asset Management Inc now owns 297,779 shares of the company’s stock valued at $18,641,000 after acquiring an additional 21,936 shares in the last quarter. Finally, Dearborn Partners LLC acquired a new position in shares of Citigroup during the third quarter valued at approximately $445,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Morgan Stanley raised their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 2.4 %

Shares of NYSE:C opened at $68.84 on Friday. The firm has a 50 day simple moving average of $77.63 and a 200 day simple moving average of $69.94. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $129.73 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released its 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 during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given 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 yield of 3.25%. Citigroup’s payout ratio is presently 37.65%.

Citigroup declared that its board has approved a share repurchase program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction 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 completion of the sale, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 in the last 90 days. 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.