Phocas Financial Corp. Buys Shares of 1,600 Citigroup Inc. (NYSE:C)

Phocas Financial Corp. purchased a new position in Citigroup Inc. (NYSE:C – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $72,000.

Other large investors also recently modified their holdings of the company. Panagora Asset Management Inc. raised its holdings in Citigroup by 24.5% during the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after purchasing an additional 5,853 shares in the last quarter. Zions Bancorporation N.A. raised its stake in shares of Citigroup by 50.5% in the 1st quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after buying an additional 2,100 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after buying an additional 907 shares during the period. Ergoteles LLC bought a new position in Citigroup during the first quarter valued at about $761,000. Finally, Halbert Hargrove Global Advisors LLC grew its holdings in Citigroup by 7.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after acquiring an additional 268 shares during the period. 70.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Citigroup

In other Citigroup news, insider Michael Whitaker sold 12,500 shares of Citigroup stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $51.63, for a total value of $645,375.00. Following the completion of the sale, the insider now directly owns 239,429 shares in the company, valued at $12,361,719.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Sara Wechter sold 2,950 shares of the stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $50.77, for a total transaction of $149,771.50. Following the transaction, the insider now owns 82,779 shares of the company’s stock, valued at approximately $4,202,689.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Whitaker sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $51.63, for a total value of $645,375.00. Following the completion of the sale, the insider now owns 239,429 shares of the company’s stock, valued at $12,361,719.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,353 shares of company stock valued at $1,403,390. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Oppenheimer upped their price target on shares of Citigroup from $83.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Morgan Stanley reduced their target price on shares of Citigroup from $45.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Citigroup from $52.00 to $46.00 in a report on Friday, January 6th. Bank of America raised their price objective on Citigroup from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 16th. Finally, TheStreet raised Citigroup from a “c+” rating to a “b-” rating in a research report on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup has a consensus rating of “Hold” and an average price target of $56.47.

Citigroup Trading Down 3.0 %

Shares of NYSE C opened at $44.25 on Friday. The firm has a market capitalization of $86.01 billion, a PE ratio of 6.32, a PEG ratio of 1.51 and a beta of 1.59. Citigroup Inc. has a one year low of $40.01 and a one year high of $58.25. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.49. The business has a 50-day moving average price of $50.17 and a two-hundred day moving average price of $47.39.

Citigroup (NYSE:C – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.08). The company had revenue of $18.01 billion for the quarter, compared to analyst estimates of $17.91 billion. Citigroup had a return on equity of 8.14% and a net margin of 14.73%. As a group, analysts predict that Citigroup Inc. will post 5.94 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Monday, February 6th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, February 3rd. This represents a $2.04 annualized dividend and a dividend yield of 4.61%. Citigroup’s dividend payout ratio is 29.14%.

About Citigroup

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.