Burney Co. Trims Stake in Citigroup Inc. (NYSE:C)

Burney Co. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,374 shares of the company’s stock after selling 535 shares during the quarter. Burney Co.’s holdings in Citigroup were worth $4,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of C. Franklin Resources Inc. increased its position in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Caxton Associates LP increased its position in shares of Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after buying an additional 1,937,038 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Citigroup by 70.0% during the third 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 buying an additional 1,865,628 shares during the period. Nordea Investment Management AB increased its position in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after buying an additional 1,731,527 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after buying an additional 1,404,120 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $78.48 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average price of $70.60 and a 200-day moving average price of $65.22. Citigroup Inc. has a 52 week low of $50.51 and a 52 week high of $79.25. The firm has a market capitalization of $148.43 billion, a PE ratio of 22.75, a P/E/G ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Citigroup declared that its board has initiated a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on C. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Piper Sandler lifted their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Bank of America increased their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.13.

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.