Triangle Securities Wealth Management Decreases Stake in Citigroup Inc. (NYSE:C)

Triangle Securities Wealth Management trimmed its holdings in shares of Citigroup Inc. (NYSE:C – Get Rating) by 14.6% during the fourth quarter, Holdings Channel reports. The fund owned 17,445 shares of the company’s stock after selling 2,971 shares during the quarter. Triangle Securities Wealth Management’s holdings in Citigroup were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. McClarren Financial Advisors Inc. purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $25,000. EWG Elevate Inc. bought a new position in Citigroup during the 4th quarter valued at $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Citigroup during the 3rd quarter worth $28,000. McIlrath & Eck LLC increased its position in shares of Citigroup by 96.6% in the 3rd quarter. McIlrath & Eck LLC now owns 814 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares during the last quarter. Finally, Annapolis Financial Services LLC raised its stake in shares of Citigroup by 59.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 935 shares of the company’s stock valued at $39,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 70.90% of the company’s stock.

Citigroup Price Performance

Citigroup stock traded down $1.37 during trading hours on Friday, hitting $44.25. 37,130,222 shares of the company traded hands, compared to its average volume of 20,003,648. The firm’s 50-day simple moving average is $50.17 and its two-hundred day simple moving average is $47.41. The firm has a market cap of $86.01 billion, a P/E ratio of 6.32, a P/E/G ratio of 1.59 and a beta of 1.59. Citigroup Inc. has a 1-year low of $40.01 and a 1-year high of $58.25. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.49.

Citigroup (NYSE:C – Get Rating) last announced its earnings results on Friday, January 13th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.08). The firm had revenue of $18.01 billion for the quarter, compared to the consensus estimate of $17.91 billion. Citigroup had a return on equity of 8.14% and a net margin of 14.73%. As a group, analysts forecast that Citigroup Inc. will post 5.94 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Monday, February 6th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, February 3rd. This represents a $2.04 annualized dividend and a yield of 4.61%. Citigroup’s dividend payout ratio is currently 29.14%.

Insider Buying and Selling

In other news, insider Michael Whitaker sold 12,500 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $51.63, for a total transaction of $645,375.00. Following the completion of the transaction, the insider now owns 239,429 shares in the company, valued at approximately $12,361,719.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Citigroup news, insider Michael Whitaker sold 12,500 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $51.63, for a total value of $645,375.00. Following the transaction, the insider now owns 239,429 shares of the company’s stock, valued at $12,361,719.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sara Wechter sold 2,950 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $50.77, for a total value of $149,771.50. Following the sale, the insider now directly owns 82,779 shares of the company’s stock, valued at $4,202,689.83. The disclosure for this sale can be found here. Insiders have sold a total of 27,353 shares of company stock valued at $1,403,390 over the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler boosted their price objective on Citigroup from $47.00 to $51.00 in a report on Tuesday, January 17th. Oppenheimer upped their price target on Citigroup from $83.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. TheStreet raised shares of Citigroup from a “c+” rating to a “b-” rating in a report on Monday, March 6th. StockNews.com started coverage on shares of Citigroup in a report on Thursday. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Citigroup from $52.00 to $46.00 in a research note on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.47.

Citigroup Profile

(Get Rating)

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.