EMC Capital Management Sells 12,780 Shares of Citigroup Inc. (NYSE:C)

EMC Capital Management reduced its position in Citigroup Inc. (NYSE:C) by 92.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,000 shares of the company’s stock after selling 12,780 shares during the period. EMC Capital Management’s holdings in Citigroup were worth $70,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of C. Dana Investment Advisors Inc. raised its position in shares of Citigroup by 1.5% during the second quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock valued at $1,331,000 after buying an additional 312 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Citigroup by 99.2% in the 2nd quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock valued at $2,893,000 after acquiring an additional 22,706 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the 2nd quarter worth $31,000. Sanctuary Advisors LLC bought a new position in shares of Citigroup during the 2nd quarter valued at about $8,471,000. Finally, Trust Co. of Toledo NA OH grew its position in shares of Citigroup by 11.8% during the third quarter. Trust Co. of Toledo NA OH now owns 16,504 shares of the company’s stock valued at $1,033,000 after purchasing an additional 1,746 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.5 %

Shares of NYSE:C opened at $81.43 on Friday. The firm has a market capitalization of $154.01 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business has a 50 day simple moving average of $73.67 and a two-hundred day simple moving average of $66.64. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last posted 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 company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the business earned $0.84 EPS. Citigroup’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Announces Dividend

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 given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has authorized a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.