Citigroup Inc. (NYSE:C) Stock Position Lowered by Prentice Wealth Management LLC

Prentice Wealth Management LLC decreased its position in Citigroup Inc. (NYSE:C) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,060 shares of the company’s stock after selling 348 shares during the quarter. Prentice Wealth Management LLC’s holdings in Citigroup were worth $286,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Camelot Portfolios LLC bought a new stake in Citigroup during the fourth quarter worth approximately $207,000. Boyd Watterson Asset Management LLC OH lifted its position in shares of Citigroup by 12.4% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 30,992 shares of the company’s stock valued at $2,182,000 after acquiring an additional 3,421 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in shares of Citigroup by 7.0% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 121,539 shares of the company’s stock worth $8,555,000 after acquiring an additional 7,902 shares in the last quarter. Blackston Financial Advisory Group LLC grew its holdings in shares of Citigroup by 3.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 4,636 shares of the company’s stock worth $326,000 after acquiring an additional 166 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Citigroup during the fourth quarter worth $278,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $79.65 on Friday. The firm has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.66 and a beta of 1.44. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $76.80 and a 200 day simple moving average of $68.48.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for 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 business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The firm also recently announced 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. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the company’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 sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.