Patient Capital Management LLC Sells 550 Shares of Citigroup Inc. (NYSE:C)

Patient Capital Management LLC lessened its position in Citigroup Inc. (NYSE:C) by 0.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,541,308 shares of the company’s stock after selling 550 shares during the quarter. Citigroup comprises about 5.0% of Patient Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Patient Capital Management LLC owned about 0.08% of Citigroup worth $108,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in Citigroup by 1.6% in the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after purchasing an additional 135 shares during the period. Hemington Wealth Management grew its position in Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after buying an additional 136 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Citigroup by 3.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after acquiring an additional 137 shares during the period. Rakuten Securities Inc. raised its holdings in Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after acquiring an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,007 shares of company stock valued at $8,824,653 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Performance

NYSE:C opened at $75.55 on Wednesday. The stock has a market capitalization of $142.20 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a 50 day moving average of $67.70 and a 200-day moving average of $71.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on C. Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada reduced their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Evercore ISI lowered their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Piper Sandler reissued an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Morgan Stanley decreased their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.04.

Citigroup Company 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.