Eastover Investment Advisors LLC Trims Holdings in Citigroup Inc. (NYSE:C)

Eastover Investment Advisors LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 2.3% in the fourth quarter, HoldingsChannel reports. The fund owned 100,752 shares of the company’s stock after selling 2,351 shares during the period. Citigroup accounts for 3.3% of Eastover Investment Advisors LLC’s portfolio, making the stock its 12th biggest holding. Eastover Investment Advisors LLC’s holdings in Citigroup were worth $7,092,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in Citigroup during the 3rd quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its stake in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley cut their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Stock Performance

Shares of C opened at $71.43 on Monday. The firm has a market capitalization of $135.09 billion, a P/E ratio of 20.70, a PEG ratio of 0.80 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a one year low of $50.51 and a one year high of $74.29. The business has a fifty day moving average of $70.19 and a 200 day moving average of $65.07.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.14%. Citigroup’s payout ratio is presently 64.93%.

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.