Franklin Resources Inc. Has $224.24 Million Stake in Citigroup Inc. (NYSE:C)

Franklin Resources Inc. trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 51.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,359,167 shares of the company’s stock after selling 4,572,543 shares during the period. Franklin Resources Inc. owned 0.23% of Citigroup worth $224,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Orion Capital Management LLC bought a new position in Citigroup in the 4th quarter valued at $26,000. Rakuten Securities Inc. bought a new position in shares of Citigroup in the 4th quarter worth $35,000. Tennessee Valley Asset Management Partners bought a new position in shares of Citigroup in the 4th quarter worth $39,000. Venturi Wealth Management LLC boosted its position in shares of Citigroup by 52.5% in the 4th quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock worth $41,000 after purchasing an additional 274 shares during the last quarter. Finally, Sachetta LLC bought a new position in shares of Citigroup in the 4th quarter worth $42,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 0.7 %

C traded down $0.46 during trading on Wednesday, reaching $64.28. 2,806,312 shares of the stock traded hands, compared to its average volume of 15,789,553. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $122.61 billion, a PE ratio of 19.16, a P/E/G ratio of 0.95 and a beta of 1.49. The stock’s 50-day moving average is $61.40 and its 200 day moving average is $54.80. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $64.98.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.30%. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Wall Street Analysts Forecast Growth

C has been the topic of several research analyst reports. Piper Sandler raised their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Oppenheimer dropped their price objective on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. Jefferies Financial Group lifted their price target on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. Finally, Evercore ISI lifted their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $62.85.

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.