Citigroup Inc. (NYSE:C) Stake Lessened by Country Club Bank

Country Club Bank cut its stake in Citigroup Inc. (NYSE:C) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,976 shares of the company’s stock after selling 2,328 shares during the period. Citigroup makes up approximately 1.1% of Country Club Bank’s investment portfolio, making the stock its 20th biggest position. Country Club Bank’s holdings in Citigroup were worth $15,906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in C. Franklin Resources Inc. lifted its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Swedbank AB raised its holdings in shares of Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Citigroup by 103.6% during the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after purchasing an additional 1,410,950 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 1.4 %

Shares of C stock opened at $78.52 on Wednesday. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The company has a market capitalization of $148.50 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.64 and a beta of 1.44. The firm has a 50-day moving average price of $74.02 and a 200 day moving average price of $66.83. 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 announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The firm 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. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on C. Bank of America raised their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Morgan Stanley raised their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.