Equitable Trust Co. Buys 1,397 Shares of Citigroup Inc. (NYSE:C)

Equitable Trust Co. increased its stake in shares of Citigroup Inc. (NYSE:C) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,880 shares of the company’s stock after buying an additional 1,397 shares during the quarter. Equitable Trust Co.’s holdings in Citigroup were worth $2,244,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its stake 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 purchasing an additional 140 shares during the period. Avitas Wealth Management LLC lifted its stake in shares of Citigroup by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after purchasing an additional 143 shares during the period. Robertson Stephens Wealth Management LLC lifted its stake in shares of Citigroup by 0.4% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after purchasing an additional 150 shares during the period. Lifestyle Asset Management Inc. lifted its stake in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares during the period. Finally, Grove Bank & Trust raised its stake in Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Morgan Stanley lifted their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Performance

Shares of C opened at $80.67 on Tuesday. 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 simple moving average of $74.86 and a two-hundred day simple moving average of $67.30. The stock has a market cap of $152.57 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.91.

Citigroup (NYSE:C) last released its quarterly earnings data 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. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup declared that its board has authorized a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.