Fox Run Management L.L.C. Sells 9,374 Shares of Citigroup Inc. (NYSE:C)

Fox Run Management L.L.C. reduced its stake in Citigroup Inc. (NYSE:C) by 64.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,173 shares of the company’s stock after selling 9,374 shares during the quarter. Fox Run Management L.L.C.’s holdings in Citigroup were worth $364,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blake Schutter Theil Wealth Advisors LLC boosted its position in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after acquiring an additional 135 shares during the last quarter. Hemington Wealth Management lifted its position in Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after buying an additional 137 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock worth $419,000 after buying an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.7 %

Shares of NYSE:C opened at $73.20 on Thursday. The business’s 50 day moving average is $77.39 and its 200 day moving average is $70.55. The stock has a market cap of $137.78 billion, a P/E ratio of 12.30, a price-to-earnings-growth 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.

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 the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.06%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its board has approved a share repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on C. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Morgan Stanley lowered their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. 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 note on Friday, January 3rd. Finally, Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $83.53.

Insider Activity at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of Citigroup 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 transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % 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 over the last ninety days. 0.08% of the stock is owned by company insiders.

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.