Citigroup Inc. (NYSE:C) Shares Sold by E&G Advisors LP

E&G Advisors LP cut its holdings in Citigroup Inc. (NYSE:C) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,333 shares of the company’s stock after selling 250 shares during the period. E&G Advisors LP’s holdings in Citigroup were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of C. MassMutual Private Wealth & Trust FSB grew its position in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares during the last quarter. Lifestyle Asset Management Inc. boosted its stake in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the last quarter. MWA Asset Management increased its position in shares of Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after purchasing an additional 173 shares in the last quarter. Finally, Bridge Creek Capital Management LLC lifted its holdings in shares of Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after purchasing an additional 175 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the topic of a number of research reports. Bank of America raised their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. 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, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

NYSE:C opened at $79.59 on Tuesday. The firm’s fifty day simple moving average is $73.85 and its 200-day simple moving average is $66.73. 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 stock has a market cap of $150.52 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.81%. Citigroup’s dividend payout ratio is presently 37.65%.

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.