Citigroup Inc. (NYSE:C) Shares Acquired by CENTRAL TRUST Co

CENTRAL TRUST Co lifted its stake in shares of Citigroup Inc. (NYSE:C) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,908 shares of the company’s stock after acquiring an additional 1,724 shares during the quarter. CENTRAL TRUST Co’s holdings in Citigroup were worth $1,401,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the third quarter valued at approximately $31,000. Northwest Investment Counselors LLC acquired a new position in Citigroup in the third quarter worth approximately $28,000. Webster Bank N. A. grew its position in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new position in Citigroup in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of several recent research reports. The Goldman Sachs Group lifted their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price target 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. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Down 2.3 %

Shares of NYSE:C opened at $79.59 on Tuesday. The firm has a fifty day moving average of $73.85 and a two-hundred day moving average of $66.73. The firm has a market capitalization of $150.52 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued 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 2.81%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management 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.