Murphy Pohlad Asset Management LLC Has $3.40 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Murphy Pohlad Asset Management LLC cut its stake in Citigroup Inc. (NYSE:C) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 48,314 shares of the company’s stock after selling 3,825 shares during the period. Citigroup accounts for 1.5% of Murphy Pohlad Asset Management LLC’s portfolio, making the stock its 25th biggest position. Murphy Pohlad Asset Management LLC’s holdings in Citigroup were worth $3,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. increased 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 valued at $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Swedbank AB increased its stake in Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after buying an additional 3,947,912 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in 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 worth $283,692,000 after acquiring an additional 1,865,628 shares during the period. Nordea Investment Management AB grew its position in 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, SG Americas Securities LLC increased its stake 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 worth $3,414,000 after purchasing an additional 1,410,950 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.9 %

NYSE:C opened at $80.66 on Thursday. The company has a market cap of $152.54 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $73.18 and a two-hundred day simple moving average of $66.42. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.77.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. Research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup declared that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Oppenheimer decreased 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. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Wells Fargo & Company raised 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. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.