Citigroup Inc. (NYSE:C) Shares Sold by Skba Capital Management LLC

Skba Capital Management LLC decreased its position in Citigroup Inc. (NYSE:C) by 4.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 188,600 shares of the company’s stock after selling 8,100 shares during the period. Citigroup makes up 2.1% of Skba Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Skba Capital Management LLC’s holdings in Citigroup were worth $13,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC raised its holdings in Citigroup by 216.3% during the third quarter. CreativeOne Wealth LLC now owns 11,986 shares of the company’s stock worth $750,000 after purchasing an additional 8,197 shares in the last quarter. Financial Counselors Inc. grew its stake in Citigroup by 11.3% during the 3rd quarter. Financial Counselors Inc. now owns 3,668 shares of the company’s stock valued at $230,000 after acquiring an additional 372 shares in the last quarter. Martingale Asset Management L P purchased a new position in Citigroup during the third quarter valued at approximately $316,000. True Wealth Design LLC acquired a new position in shares of Citigroup in the third quarter worth $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Citigroup during the 3rd quarter worth about $919,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction on 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 of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Citigroup Trading Down 2.2 %

Shares of Citigroup stock opened at $70.28 on Monday. 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 company has a 50 day simple moving average of $77.06 and a two-hundred day simple moving average of $70.81. The firm has a market cap of $132.28 billion, a PE ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released its quarterly earnings data 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the business earned $0.84 EPS. Citigroup’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley cut their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.50.

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.