Mitchell Mcleod Pugh & Williams Inc. Trims Stock Position in Citigroup Inc. (NYSE:C)

Mitchell Mcleod Pugh & Williams Inc. trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 21.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,606 shares of the company’s stock after selling 2,313 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Citigroup were worth $606,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of C. Geode Capital Management LLC lifted its stake in shares of Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after buying an additional 791,758 shares during the period. Franklin Resources Inc. raised its holdings in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Citigroup by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares during the period. Legal & General Group Plc lifted its stake in shares of Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. boosted its holdings in shares of Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 2.0 %

NYSE C opened at $80.05 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $80.45. The business has a 50 day moving average price of $71.22 and a two-hundred day moving average price of $65.54. The stock has a market cap of $151.40 billion, a PE ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on C. Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

About Citigroup

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.