Calton & Associates Inc. Reduces Holdings in Citigroup Inc. (NYSE:C)

Calton & Associates Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,642 shares of the company’s stock after selling 147 shares during the period. Calton & Associates Inc.’s holdings in Citigroup were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares during the period. Lifestyle Asset Management Inc. boosted its position in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares during the period. Grove Bank & Trust increased its stake in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares in the last quarter. MWA Asset Management raised its position in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the period. Finally, Bridge Creek Capital Management LLC lifted its stake in shares of Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after buying an additional 175 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on C. Barclays raised 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. The Goldman Sachs Group upped their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Bank of America lifted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Truist Financial initiated coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Performance

NYSE:C opened at $81.43 on Friday. The firm has a market capitalization of $154.01 billion, a PE ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. The stock’s fifty day moving average is $73.67 and its 200 day moving average is $66.64. 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.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 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 firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is presently 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.