Bristlecone Advisors LLC Sells 1,067 Shares of Citigroup Inc. (NYSE:C)

Bristlecone Advisors LLC reduced its stake in shares of Citigroup Inc. (NYSE:C) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,285 shares of the company’s stock after selling 1,067 shares during the period. Bristlecone Advisors LLC’s holdings in Citigroup were worth $1,146,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in C. Franklin Resources Inc. increased its position in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Swedbank AB boosted its stake in Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after acquiring an additional 1,731,527 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Citigroup by 103.6% during the fourth 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 in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $81.73 on Monday. The stock has a market capitalization of $154.57 billion, a PE ratio of 13.74, a P/E/G ratio of 0.65 and a beta of 1.44. 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 firm has a fifty day simple moving average of $74.67 and a 200 day simple moving average of $67.18. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.91.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.74%. Citigroup’s dividend payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

C has been the subject of a number of recent research reports. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley boosted their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup 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.