Citigroup Inc. (NYSE:C) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 7.6% during the 4th quarter, HoldingsChannel reports. The firm owned 215,679 shares of the company’s stock after selling 17,835 shares during the period. State of Alaska Department of Revenue’s holdings in Citigroup were worth $15,181,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of C. AMF Tjanstepension AB acquired a new stake in shares of Citigroup during the 3rd quarter worth approximately $4,607,000. Czech National Bank increased its stake in Citigroup by 6.9% during the third quarter. Czech National Bank now owns 388,638 shares of the company’s stock worth $24,329,000 after acquiring an additional 25,158 shares during the last quarter. Fulton Bank N.A. raised its position in Citigroup by 1.8% in the third quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock valued at $892,000 after purchasing an additional 258 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at $205,000. Finally, Brookstone Capital Management grew its holdings in shares of Citigroup by 38.5% during the 3rd quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock worth $512,000 after purchasing an additional 2,274 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays raised shares of 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 reiterated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Evercore ISI lifted their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 1.3 %

C opened at $79.48 on Thursday. The company has a market cap of $150.32 billion, a PE ratio of 13.36, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $74.21 and a two-hundred day moving average price of $66.91. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the business earned $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, research analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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

Citigroup Company Profile

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.