Y Intercept Hong Kong Ltd Sells 17,794 Shares of Citigroup Inc. (NYSE:C)

Y Intercept Hong Kong Ltd reduced its stake in shares of Citigroup Inc. (NYSE:C) by 24.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,771 shares of the company’s stock after selling 17,794 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Citigroup were worth $3,926,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brookstone Capital Management boosted its stake in Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. boosted its stake in Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares during the last quarter. HighTower Advisors LLC boosted its stake in Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares during the last quarter. Finally, KBC Group NV boosted its stake in Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after acquiring an additional 20,291 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were 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 owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale 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 transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Oppenheimer reduced 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. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Down 2.1 %

Shares of NYSE:C opened at $79.65 on Monday. Citigroup Inc. has a 12 month low of $53.51 and a 12 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. The company’s fifty day simple moving average is $76.80 and its 200 day simple moving average is $68.65. The firm has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the business earned $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.81%. Citigroup’s payout ratio is currently 37.65%.

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.