Citigroup Inc. (NYSE:C) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of Citigroup Inc. (NYSE:C) by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 721,835 shares of the company’s stock after buying an additional 338,602 shares during the period. Teacher Retirement System of Texas’ holdings in Citigroup were worth $50,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Core Alternative Capital lifted its position in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Citigroup during the third quarter valued at approximately $31,000. Webster Bank N. A. lifted its position in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new position in shares of Citigroup during the fourth quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup during the fourth quarter worth $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Oppenheimer reduced their target price 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. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. 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 target price on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Bank of America boosted their target price 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. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.53.

Citigroup Stock Up 0.5 %

C stock opened at $71.80 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The firm has a fifty day moving average price of $77.45 and a two-hundred day moving average price of $70.13. The firm has a market cap of $135.31 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

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 paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.12%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the company’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

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.