Blue Trust Inc. Acquires 6,647 Shares of Citigroup Inc. (NYSE:C)

Blue Trust Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 48.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,247 shares of the company’s stock after acquiring an additional 6,647 shares during the period. Blue Trust Inc.’s holdings in Citigroup were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Citigroup by 30.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,878 shares of the company’s stock worth $1,540,000 after acquiring an additional 5,087 shares in the last quarter. 1834 Investment Advisors Co. raised its position in shares of Citigroup by 12.4% in the 4th quarter. 1834 Investment Advisors Co. now owns 69,851 shares of the company’s stock worth $4,917,000 after acquiring an additional 7,730 shares in the last quarter. Jamison Private Wealth Management Inc. raised its position in shares of Citigroup by 8.0% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 13,584 shares of the company’s stock worth $956,000 after acquiring an additional 1,002 shares in the last quarter. TTP Investments Inc. raised its position in shares of Citigroup by 6.2% in the 4th quarter. TTP Investments Inc. now owns 6,215 shares of the company’s stock worth $438,000 after acquiring an additional 362 shares in the last quarter. Finally, Insight Inv LLC raised its position in shares of Citigroup by 8.9% in the 4th quarter. Insight Inv LLC now owns 27,122 shares of the company’s stock worth $1,909,000 after acquiring an additional 2,212 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $79.97 on Wednesday. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. The stock’s 50 day moving average price is $72.93 and its 200-day moving average price is $66.32. The company has a market capitalization of $151.24 billion, a PE ratio of 13.44, a PEG ratio of 0.65 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the business 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 anticipate that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a stock repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Citigroup 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.