Cigna Investments Inc. New Has $1.37 Million Position in Citigroup Inc. (NYSE:C)

Cigna Investments Inc. New cut its holdings in Citigroup Inc. (NYSE:C) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,427 shares of the company’s stock after selling 317 shares during the quarter. Cigna Investments Inc. New’s holdings in Citigroup were worth $1,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Citigroup by 2.0% in 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 acquiring an additional 791,758 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Citigroup by 18.5% in the third 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 boosted its holdings in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after buying an additional 240,628 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Evercore ISI boosted 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. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

Shares of C opened at $80.67 on Tuesday. The stock has a market cap of $152.57 billion, a PE ratio of 13.56, a PEG ratio of 0.65 and a beta of 1.44. The business has a 50-day simple moving average of $74.86 and a two-hundred day simple moving average of $67.30. 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 $82.91.

Citigroup (NYSE:C) last issued its quarterly 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. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.78%. Citigroup’s payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase 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.

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.