Concurrent Investment Advisors LLC Boosts Position in Citigroup Inc. (NYSE:C)

Concurrent Investment Advisors LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,475 shares of the company’s stock after purchasing an additional 2,149 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Citigroup were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Advyzon Investment Management LLC purchased a new position in Citigroup during the 4th quarter worth approximately $261,000. Handelsbanken Fonder AB increased its holdings in shares of Citigroup by 9.7% during the 4th quarter. Handelsbanken Fonder AB now owns 694,493 shares of the company’s stock valued at $48,885,000 after purchasing an additional 61,152 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of Citigroup by 100.4% during the 4th quarter. Ieq Capital LLC now owns 157,153 shares of the company’s stock valued at $11,062,000 after purchasing an additional 78,724 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in shares of Citigroup by 630.7% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 84,346 shares of the company’s stock valued at $5,937,000 after purchasing an additional 72,803 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Citigroup by 1.0% during the 4th quarter. Private Advisor Group LLC now owns 159,448 shares of the company’s stock valued at $11,224,000 after purchasing an additional 1,526 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction on 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 in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 in the last 90 days. 0.08% of the stock is owned by insiders.

Citigroup Trading Down 2.1 %

Shares of C opened at $79.65 on Friday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm’s fifty day moving average is $76.80 and its two-hundred day moving average is $68.56. The stock has a market cap of $150.63 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 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 company posted $0.84 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The firm 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 dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on C shares. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Profile

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.