Berkeley Capital Partners LLC Purchases 18,339 Shares of Citigroup Inc. (NYSE:C)

Berkeley Capital Partners LLC grew its position in Citigroup Inc. (NYSE:C) by 374.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,243 shares of the company’s stock after buying an additional 18,339 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Citigroup were worth $1,636,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brookstone Capital Management raised its holdings in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. raised its holdings in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after acquiring an additional 20,000 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares in the last quarter. HighTower Advisors LLC raised its holdings in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after acquiring an additional 8,301 shares in the last quarter. Finally, Candriam S.C.A. raised its holdings in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after acquiring an additional 22,657 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 1.7 %

Shares of NYSE:C opened at $71.43 on Thursday. The company has a market capitalization of $134.61 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. 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 business’s 50 day simple moving average is $77.47 and its 200 day simple moving average is $70.12.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 6.62% and a net margin of 7.43%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The firm 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Insider Buying and Selling at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 109,780 shares in the company, 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. In the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

C has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Truist Financial initiated 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. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.53.

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.