First Citizens Bank & Trust Co. Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

First Citizens Bank & Trust Co. lessened its position in Citigroup Inc. (NYSE:C) by 4.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,153 shares of the company’s stock after selling 265 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Citigroup were worth $363,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Ascent Group LLC grew its stake in shares of Citigroup by 5.5% in the second quarter. Ascent Group LLC now owns 35,559 shares of the company’s stock worth $2,257,000 after acquiring an additional 1,855 shares in the last quarter. Creative Planning grew its stake in Citigroup by 2.9% during the 2nd quarter. Creative Planning now owns 378,990 shares of the company’s stock worth $24,051,000 after purchasing an additional 10,518 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in Citigroup during the 2nd quarter worth about $3,031,000. NewEdge Advisors LLC raised its position in Citigroup by 58.4% in the 2nd quarter. NewEdge Advisors LLC now owns 127,121 shares of the company’s stock valued at $8,067,000 after purchasing an additional 46,890 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Citigroup by 2.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 125,696 shares of the company’s stock valued at $7,977,000 after buying an additional 3,004 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Bank of America increased their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Down 0.5 %

Shares of NYSE:C opened at $81.07 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $153.33 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77. The firm has a fifty day moving average price of $72.71 and a 200 day moving average price of $66.21.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. Sell-side analysts predict that Citigroup Inc. will post 7.51 EPS for the current year.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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.