Montecito Bank & Trust Sells 154 Shares of Citigroup Inc. (NYSE:C)

Montecito Bank & Trust lessened its position in Citigroup Inc. (NYSE:C) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,067 shares of the company’s stock after selling 154 shares during the period. Montecito Bank & Trust’s holdings in Citigroup were worth $427,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after buying an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after buying an additional 1,731,527 shares during the period. SG Americas Securities LLC raised its holdings in shares of Citigroup by 103.6% during the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after acquiring an additional 1,410,950 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,404,120 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 0.7 %

Citigroup stock opened at $81.41 on Friday. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. The stock has a market cap of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43. The company’s 50-day moving average price is $72.47 and its two-hundred day moving average price is $66.11. 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 (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. As a group, analysts expect that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup declared that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase plans are typically a sign 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 dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock 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 company an “outperform” rating in a report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.