Citigroup Inc. (NYSE:C) Shares Sold by Guardian Investment Management

Guardian Investment Management trimmed its position in Citigroup Inc. (NYSE:C) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,890 shares of the company’s stock after selling 2,100 shares during the quarter. Guardian Investment Management’s holdings in Citigroup were worth $907,000 at the end of the most recent reporting period.

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

Citigroup Price Performance

Citigroup stock opened at $80.05 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a one year low of $50.51 and a one year high of $80.45. The company has a market cap 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 business has a fifty day moving average of $71.22 and a two-hundred day moving average of $65.53.

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 net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced 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. This represents a $2.24 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on C. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Piper Sandler reiterated 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. Oppenheimer lowered their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.