Citigroup Inc. (NYSE:C) Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co grew its stake in shares of Citigroup Inc. (NYSE:C) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,908 shares of the company’s stock after acquiring an additional 1,724 shares during the period. CENTRAL TRUST Co’s holdings in Citigroup were worth $1,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the 3rd quarter valued at approximately $31,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the 3rd quarter valued at approximately $28,000. Webster Bank N. A. lifted its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Berbice Capital Management LLC purchased a new stake in Citigroup in the 4th quarter valued at approximately $42,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE:C opened at $79.59 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a 50-day moving average of $73.85 and a two-hundred day moving average of $66.73. The stock has a market cap of $150.52 billion, a P/E ratio of 13.38, a PEG ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

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

Citigroup declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. Citigroup’s payout ratio is 37.65%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Morgan Stanley increased their price target on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased 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. Finally, Bank of America upped their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.