Citigroup Inc. (NYSE:C) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Citigroup Inc. (NYSE:C) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,246,991 shares of the company’s stock after selling 294,272 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Citigroup worth $298,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Northwest Investment Counselors LLC bought a new position in Citigroup during the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup in the 3rd quarter valued at about $31,000. Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Trading Up 3.8 %

Shares of NYSE:C opened at $82.45 on Friday. The firm has a fifty day moving average of $74.45 and a two-hundred day moving average of $67.02. 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 Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The firm has a market capitalization of $155.94 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings data 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Announces Dividend

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 $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.72%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its board has initiated a stock repurchase plan 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 plans are generally an indication that the company’s management believes its shares are 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.