Paragon Capital Management LLC Sells 714 Shares of Citigroup Inc. (NYSE:C)

Paragon Capital Management LLC lessened its stake in Citigroup Inc. (NYSE:C) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,058 shares of the company’s stock after selling 714 shares during the period. Citigroup comprises 0.6% of Paragon Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Paragon Capital Management LLC’s holdings in Citigroup were worth $1,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in C. Core Alternative Capital lifted its stake in Citigroup by 83.4% during the fourth 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 position in Citigroup during the third quarter worth about $31,000. Webster Bank N. A. lifted its stake in 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 during the period. Creative Capital Management Investments LLC bought a new position in Citigroup during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC bought a new position in Citigroup during the fourth quarter worth about $37,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.5 %

C opened at $71.80 on Friday. The stock has a market capitalization of $135.31 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The firm’s fifty day simple moving average is $77.45 and its 200 day simple moving average is $70.13. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the business earned $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 3.12%. Citigroup’s dividend payout ratio is presently 37.65%.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on C shares. Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.53.

Insider Transactions at Citigroup

In related news, 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 value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now 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. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last ninety 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.