Citigroup Inc. (NYSE:C) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 79.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,464 shares of the company’s stock after selling 39,298 shares during the quarter. Procyon Advisors LLC’s holdings in Citigroup were worth $737,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. Lifestyle Asset Management Inc. boosted its holdings in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after acquiring an additional 170 shares during the period. MWA Asset Management boosted its stake in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares in the last quarter. Bridge Creek Capital Management LLC grew its holdings in shares of Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Citigroup by 9.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock valued at $128,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on C. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Evercore ISI boosted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Up 2.0 %

Shares of C opened at $80.05 on Friday. Citigroup Inc. has a twelve month low of $50.51 and a twelve month high of $80.45. The firm has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock’s fifty day simple moving average is $71.22 and its 200 day simple moving average is $65.52.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the business posted $0.84 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup Dividend Announcement

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

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

Citigroup 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.