Citigroup Inc. (NYSE:C) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,677 shares of the company’s stock after selling 200 shares during the period. Stablepoint Partners LLC’s holdings in Citigroup were worth $470,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after buying an additional 1,731,527 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after buying an additional 1,410,950 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after buying an additional 1,404,120 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company upped their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

C stock opened at $81.41 on Monday. The firm has a market cap of $153.96 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The stock has a 50-day simple moving average of $72.47 and a 200-day simple moving average of $66.10.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the company earned $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s payout ratio is currently 37.65%.

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.