Amalgamated Bank Has $25.52 Million Stake in Citigroup Inc. (NYSE:C)

Amalgamated Bank lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 362,532 shares of the company’s stock after selling 12,741 shares during the quarter. Amalgamated Bank’s holdings in Citigroup were worth $25,519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. AMF Tjanstepension AB acquired a new position in Citigroup in the third quarter valued at $4,607,000. Swedbank AB grew its stake in Citigroup by 1.3% during the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after purchasing an additional 54,782 shares during the period. Allworth Financial LP lifted its stake in Citigroup by 6.0% in the third quarter. Allworth Financial LP now owns 33,800 shares of the company’s stock valued at $2,116,000 after buying an additional 1,909 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Citigroup by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 210,560 shares of the company’s stock worth $13,027,000 after buying an additional 39,991 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C opened at $78.49 on Tuesday. The firm has a market cap of $148.44 billion, a P/E ratio of 13.19, a PEG ratio of 0.64 and a beta of 1.44. 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 fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm has a 50-day moving average of $76.94 and a 200 day moving average of $68.80.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company 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 firm posted $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Insider Activity at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction on 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 completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. 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. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on C. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup currently has an average 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.