Pacific Global Investment Management Co. Sells 31,930 Shares of Citigroup Inc. (NYSE:C)

Pacific Global Investment Management Co. lessened its holdings in Citigroup Inc. (NYSE:C) by 64.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,378 shares of the company’s stock after selling 31,930 shares during the period. Citigroup accounts for 1.6% of Pacific Global Investment Management Co.’s holdings, making the stock its 26th biggest position. Pacific Global Investment Management Co.’s holdings in Citigroup were worth $1,223,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in C. Core Alternative Capital raised its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter valued at $31,000. Webster Bank N. A. raised its stake in 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 period. Creative Capital Management Investments LLC bought a new position in Citigroup during the 4th quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Citigroup during the 4th quarter worth $37,000. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on C shares. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Up 1.2 %

Shares of NYSE C opened at $79.78 on Monday. 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 market capitalization of $150.35 billion, a P/E ratio of 13.41, a PEG ratio of 0.64 and a beta of 1.44. The stock’s fifty day moving average is $77.72 and its 200 day moving average is $69.38.

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 firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

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

Insider Buying and Selling at Citigroup

In other Citigroup news, 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 $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

Citigroup Company 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.