HighPoint Advisor Group LLC Sells 468 Shares of Citigroup Inc. (NYSE:C)

HighPoint Advisor Group LLC decreased its stake in Citigroup Inc. (NYSE:C) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,620 shares of the company’s stock after selling 468 shares during the period. HighPoint Advisor Group LLC’s holdings in Citigroup were worth $1,592,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blake Schutter Theil Wealth Advisors LLC raised its position in Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after purchasing an additional 135 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after buying an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Citigroup by 3.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after acquiring an additional 137 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after acquiring an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on C shares. Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $84.50.

Insider Activity

In related news, COO Anand Selvakesari sold 30,000 shares of the company’s 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 in the company, valued at approximately $18,586,498. This 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 can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. 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 insiders.

Citigroup Trading Up 1.1 %

Shares of NYSE C opened at $71.08 on Tuesday. The firm’s 50 day moving average price is $76.88 and its 200-day moving average price is $70.91. 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 $133.78 billion, a PE ratio of 11.95, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced 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 3.15%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

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