Thrivent Financial for Lutherans Sells 3,191 Shares of Citigroup Inc. (NYSE:C)

Thrivent Financial for Lutherans lessened its stake in Citigroup Inc. (NYSE:C) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,472 shares of the company’s stock after selling 3,191 shares during the period. Thrivent Financial for Lutherans’ holdings in Citigroup were worth $10,021,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Core Alternative Capital grew its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter worth approximately $31,000. Creative Capital Management Investments LLC bought a new stake in Citigroup in the 4th quarter worth approximately $35,000. Webster Bank N. A. grew its position in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, Sierra Ocean LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $37,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.2 %

Shares of C stock opened at $71.93 on Friday. The stock has a market cap of $135.56 billion, a P/E ratio of 12.09, a PEG ratio of 0.64 and a beta of 1.43. 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 company’s fifty day simple moving average is $77.46 and its two-hundred day simple moving average is $70.26.

Citigroup (NYSE:C) last announced its quarterly 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 business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on C. Morgan Stanley cut their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Evercore ISI boosted their price objective 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. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Bank of America boosted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $83.53.

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of the company’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 sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.