Flagship Harbor Advisors LLC reduced its position in Citigroup Inc. (NYSE:C – Free Report) by 16.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,438 shares of the company’s stock after selling 1,602 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Citigroup were worth $594,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in C. Geode Capital Management LLC increased its stake in Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in shares of Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after buying an additional 242,545 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have commented on C shares. Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.
Citigroup Stock Performance
NYSE:C opened at $79.97 on Wednesday. The company has a market capitalization of $151.24 billion, a PE ratio of 13.44, a P/E/G ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. 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 company has a 50 day simple moving average of $72.93 and a two-hundred day simple moving average of $66.32.
Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Research analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.
Citigroup Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.
Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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.
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