Greenhaven Associates Inc. Sells 12,626 Shares of Citigroup Inc. (NYSE:C)

Greenhaven Associates Inc. lessened its position in shares of Citigroup Inc. (NYSE:C) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,870,765 shares of the company’s stock after selling 12,626 shares during the period. Citigroup comprises 17.6% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 3rd biggest holding. Greenhaven Associates Inc.’s holdings in Citigroup were worth $1,187,533,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Proquility Private Wealth Partners LLC lifted its position in shares of Citigroup by 0.5% during the 4th quarter. Proquility Private Wealth Partners LLC now owns 67,482 shares of the company’s stock worth $4,750,000 after purchasing an additional 310 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in Citigroup during the 4th quarter worth about $26,561,000. JBGlobal.com LLC acquired a new position in shares of Citigroup during the 4th quarter worth about $292,000. Atomi Financial Group Inc. increased its holdings in shares of Citigroup by 12.8% in the 4th quarter. Atomi Financial Group Inc. now owns 29,305 shares of the company’s stock valued at $2,063,000 after acquiring an additional 3,334 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its stake in Citigroup by 40.5% during the fourth quarter. Chesley Taft & Associates LLC now owns 69,939 shares of the company’s stock worth $4,923,000 after purchasing an additional 20,158 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on C shares. Bank of America boosted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Four equities research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 2.2 %

C opened at $81.74 on Wednesday. The company has a market cap of $154.59 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a one year low of $51.95 and a one year high of $81.85. The business’s fifty day moving average is $71.68 and its two-hundred day moving average is $65.77.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the business earned $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 7.49 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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.