Gryphon Financial Partners LLC Sells 164 Shares of Citigroup Inc. (NYSE:C)

Gryphon Financial Partners LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,352 shares of the company’s stock after selling 164 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Citigroup were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Hemington Wealth Management increased its holdings in shares of 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 acquiring an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in 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 purchasing an additional 140 shares in the last quarter. Avitas Wealth Management LLC increased its stake in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after purchasing an additional 143 shares in the last quarter. NTV Asset Management LLC raised its holdings in shares of Citigroup by 2.5% in the fourth quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock worth $429,000 after buying an additional 148 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC lifted its stake in shares of Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after buying an additional 150 shares during the period. Institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research analyst reports. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Evercore ISI raised their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Finally, Bank of America upped their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Down 3.5 %

C opened at $77.14 on Tuesday. The company has a fifty day moving average of $77.87 and a two-hundred day moving average of $69.49. The stock has a market capitalization of $145.37 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results 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. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. On average, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given 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 2.90%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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.