Pitcairn Co. Purchases 4,298 Shares of Citigroup Inc. (NYSE:C)

Pitcairn Co. raised its position in Citigroup Inc. (NYSE:C) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,035 shares of the company’s stock after purchasing an additional 4,298 shares during the quarter. Pitcairn Co.’s holdings in Citigroup were worth $3,733,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Core Alternative Capital grew its position 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 purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new position in Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. raised its stake in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new position in Citigroup in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Citigroup during the 4th quarter valued at about $37,000. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’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 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 represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $71.81 on Thursday. The firm has a market cap of $135.16 billion, a P/E 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 stock has a 50 day moving average of $76.46 and a two-hundred day moving average of $71.01. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

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

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 issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.12%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analysts Set New Price Targets

C has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group decreased their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley dropped their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.86.

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.