State of Alaska Department of Revenue Lowers Holdings in Citigroup Inc. (NYSE:C)

State of Alaska Department of Revenue reduced its position in shares of Citigroup Inc. (NYSE:C) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,679 shares of the company’s stock after selling 17,835 shares during the quarter. State of Alaska Department of Revenue’s holdings in Citigroup were worth $15,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of C. Northwest Investment Counselors LLC purchased a new position in Citigroup during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in Citigroup during the 3rd quarter valued at $31,000. Webster Bank N. A. grew its stake in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Citigroup by 184.0% during 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 in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on C. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley upped 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $79.48 on Thursday. The stock has a market capitalization of $150.32 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.44. 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’s 50 day simple moving average is $74.21 and its 200-day simple moving average is $66.91. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.77.

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

Citigroup Announces Dividend

The firm also recently announced 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 of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.82%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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

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.