Processus Wealth & Capital Management LLC Sells 347 Shares of Citigroup Inc. (NYSE:C)

Processus Wealth & Capital Management LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,375 shares of the company’s stock after selling 347 shares during the period. Citigroup accounts for about 2.0% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 21st largest position. Processus Wealth & Capital Management LLC’s holdings in Citigroup were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Hemington Wealth Management raised its stake in Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after acquiring an additional 140 shares during the last quarter. Avitas Wealth Management LLC boosted its holdings in shares of Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after acquiring an additional 143 shares during the last quarter. NTV Asset Management LLC increased its position in shares of Citigroup by 2.5% during the 4th quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock valued at $429,000 after purchasing an additional 148 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its stake in shares of Citigroup by 0.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $78.49 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $148.44 billion, a PE ratio of 13.19, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company’s 50 day simple moving average is $76.94 and its 200 day simple moving average is $68.80.

Citigroup (NYSE:C) last announced its 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 firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The company 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 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Insider Activity

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

Analyst Upgrades and Downgrades

C has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America increased their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.