Proficio Capital Partners LLC Purchases New Shares in Citigroup Inc. (NYSE:C)

Proficio Capital Partners LLC acquired a new position in Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,891 shares of the company’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LVZ Inc. lifted its position in shares of Citigroup by 20.4% during the fourth quarter. LVZ Inc. now owns 9,813 shares of the company’s stock worth $691,000 after purchasing an additional 1,665 shares during the last quarter. Atria Investments Inc lifted its holdings in Citigroup by 3.8% during the 4th quarter. Atria Investments Inc now owns 239,032 shares of the company’s stock worth $16,825,000 after buying an additional 8,861 shares during the last quarter. Assetmark Inc. grew its position in shares of Citigroup by 28.5% in the 4th quarter. Assetmark Inc. now owns 120,978 shares of the company’s stock worth $8,516,000 after acquiring an additional 26,864 shares in the last quarter. Cookson Peirce & Co. Inc. raised its position in shares of Citigroup by 13.0% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 14,768 shares of the company’s stock valued at $1,040,000 after acquiring an additional 1,704 shares in the last quarter. Finally, Keybank National Association OH lifted its stake in Citigroup by 6.5% during the fourth quarter. Keybank National Association OH now owns 43,906 shares of the company’s stock worth $3,091,000 after purchasing an additional 2,672 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 1.7 %

Shares of Citigroup stock opened at $73.20 on Thursday. The business has a fifty day simple moving average of $77.39 and a 200-day simple moving average of $70.55. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm has a market cap of $137.78 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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 announced its quarterly earnings data 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 business’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business 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. This represents a $2.24 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.53.

Insider Buying and Selling

In other Citigroup news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. 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 three months. 0.08% of the stock is currently owned by 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.