Sound View Wealth Advisors Group LLC Purchases 705 Shares of Citigroup Inc. (NYSE:C)

Sound View Wealth Advisors Group LLC grew its position in Citigroup Inc. (NYSE:C) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,662 shares of the company’s stock after buying an additional 705 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Citigroup were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Core Alternative Capital raised its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the third quarter valued at $31,000. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the fourth quarter valued at about $35,000. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $37,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C opened at $70.55 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $132.94 billion, a PE ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.43. The firm has a 50 day moving average of $77.90 and a 200-day moving average of $69.78. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate 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 was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated 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 buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This represents a 21.20 % 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 valued at $8,523,149 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on C. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Finally, Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price 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.