Pingora Partners LLC Has $338,000 Stock Position in Citigroup Inc. (NYSE:C)

Pingora Partners LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,795 shares of the company’s stock after selling 150 shares during the period. Pingora Partners LLC’s holdings in Citigroup were worth $338,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in C. Core Alternative Capital increased its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the period. Webster Bank N. A. raised its stake in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup in the 4th quarter valued at $35,000. Sierra Ocean LLC acquired a new stake in Citigroup in the 4th quarter worth $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at about $39,000. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on C shares. Royal Bank of Canada lowered their target price on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays upgraded 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 research report on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $84.61.

Insider Activity

In related 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 value of $4,864,872.65. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, 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 three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $68.16 on Friday. The company has a market cap of $128.29 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.64 and a beta of 1.29. 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. The stock has a fifty day moving average price of $69.70 and a 200-day moving average price of $71.01.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.29%. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

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

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.