Equitable Trust Co. Purchases 1,397 Shares of Citigroup Inc. (NYSE:C)

Equitable Trust Co. boosted its position in shares of Citigroup Inc. (NYSE:C) by 4.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,880 shares of the company’s stock after acquiring an additional 1,397 shares during the period. Equitable Trust Co.’s holdings in Citigroup were worth $2,244,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the period. Avitas Wealth Management LLC increased its holdings in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after purchasing an additional 143 shares during the period. Robertson Stephens Wealth Management LLC increased its holdings in Citigroup by 0.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after purchasing an additional 150 shares during the period. Lifestyle Asset Management Inc. increased its holdings in Citigroup by 4.5% during the 3rd 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. Finally, Grove Bank & Trust increased its holdings in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Down 1.3 %

Citigroup stock opened at $80.67 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 stock has a market capitalization of $152.57 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.91. The business has a fifty day moving average price of $74.86 and a 200-day moving average price of $67.30.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The firm had revenue of $19.58 billion during 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 business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 payout ratio is 37.65%.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Barclays upgraded 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 report on Monday, January 6th. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley raised their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock 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.