Lockheed Martin Investment Management Co. Raises Stock Position in Citigroup Inc. (NYSE:C)

Lockheed Martin Investment Management Co. lifted its position in Citigroup Inc. (NYSE:C) by 37.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,300 shares of the company’s stock after acquiring an additional 17,900 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Citigroup were worth $4,667,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup during the third quarter valued at approximately $31,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the third quarter valued at about $28,000. Webster Bank N. A. increased its holdings in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the period. Finally, Berbice Capital Management LLC bought a new stake in Citigroup during the fourth quarter valued at about $42,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 1.4 %

Shares of NYSE C opened at $78.52 on Wednesday. The company has a market cap of $148.50 billion, a P/E ratio of 13.20, a PEG ratio of 0.64 and a beta of 1.44. The firm has a 50-day simple moving average of $74.02 and a two-hundred day simple moving average of $66.83. 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 results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Research analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup announced that its board has authorized a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on C. Morgan Stanley increased their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Four investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.