Nwam LLC Purchases 629 Shares of Citigroup Inc. (NYSE:C)

Nwam LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,122 shares of the company’s stock after purchasing an additional 629 shares during the period. Nwam LLC’s holdings in Citigroup were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in C. Core Alternative Capital lifted its stake in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup in the third quarter worth about $31,000. Webster Bank N. A. lifted its stake 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 acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new stake in Citigroup during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in Citigroup during the 4th quarter worth approximately $37,000. Institutional investors own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction 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 $18,586,498. This trade represents a 11.57 % 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 ninety days. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 1.2 %

NYSE C opened at $79.78 on Friday. The firm has a market capitalization of $150.35 billion, a PE ratio of 13.41, a P/E/G ratio of 0.64 and a beta of 1.44. The stock’s 50 day moving average is $77.72 and its 200 day moving average is $69.31. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.81%. Citigroup’s payout ratio is 37.65%.

Analyst Ratings Changes

C has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Oppenheimer lowered 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. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.