Parallel Advisors LLC Has $2.20 Million Holdings in Citigroup Inc. (NYSE:C)

Parallel Advisors LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 8.2% during the 4th quarter, HoldingsChannel reports. The fund owned 31,279 shares of the company’s stock after acquiring an additional 2,380 shares during the quarter. Parallel Advisors LLC’s holdings in Citigroup were worth $2,202,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Core Alternative Capital lifted its position 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 stake in Citigroup during the third quarter worth about $31,000. Creative Capital Management Investments LLC bought a new stake in Citigroup during the fourth quarter worth about $35,000. Webster Bank N. A. lifted its position 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. Finally, Sierra Ocean LLC bought a new stake in Citigroup during the fourth quarter worth about $37,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the firm’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 transaction of $1,225,276.25. Following the sale, the insider now directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

NYSE:C opened at $70.24 on Wednesday. The company has a market capitalization of $132.37 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a 50 day simple moving average of $77.51 and a two-hundred day simple moving average of $70.11. 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 Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Analysts Set New Price Targets

Several research firms recently weighed in on C. Evercore ISI upped their price objective 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. The Goldman Sachs Group increased their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. 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. StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Profile

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.