Citigroup Inc. (NYSE:C) Shares Sold by Asset Dedication LLC

Asset Dedication LLC reduced its stake in Citigroup Inc. (NYSE:C) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,100 shares of the company’s stock after selling 480 shares during the period. Asset Dedication LLC’s holdings in Citigroup were worth $852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup in the second quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the 3rd quarter valued at $31,000. Webster Bank N. A. boosted its stake in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 0.9 %

Shares of NYSE C opened at $80.66 on Thursday. The stock has a market cap of $152.54 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.65 and a beta of 1.43. The business has a 50 day simple moving average of $73.18 and a 200 day simple moving average of $66.42. 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 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.84 EPS. On average, research analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently declared 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 dividend yield of 2.78%. Citigroup’s dividend payout ratio is currently 37.65%.

Analyst Ratings Changes

C has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. 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 report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

About Citigroup

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.