Citigroup Inc. (NYSE:C) Stock Position Lessened by Coastwise Capital Group LLC

Coastwise Capital Group LLC decreased its stake in shares of Citigroup Inc. (NYSE:C) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,100 shares of the company’s stock after selling 146 shares during the period. Coastwise Capital Group LLC’s holdings in Citigroup were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cibc World Market Inc. raised its holdings in shares of Citigroup by 19.3% during the fourth quarter. Cibc World Market Inc. now owns 1,365,633 shares of the company’s stock valued at $96,127,000 after acquiring an additional 220,511 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of Citigroup in the fourth quarter worth $10,295,000. Crews Bank & Trust acquired a new stake in Citigroup in the 4th quarter valued at approximately $175,000. OLD National Bancorp IN raised its position in shares of Citigroup by 3.4% during the fourth quarter. OLD National Bancorp IN now owns 371,586 shares of the company’s stock valued at $26,156,000 after buying an additional 12,120 shares during the last quarter. Finally, Busey Bank raised its stake in shares of Citigroup by 3.0% in the 4th quarter. Busey Bank now owns 189,779 shares of the company’s stock valued at $13,359,000 after buying an additional 5,572 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 1.6 %

Shares of Citigroup stock opened at $81.88 on Friday. 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 company has a market capitalization of $154.86 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business has a 50-day moving average of $73.44 and a two-hundred day moving average of $66.53. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77.

Citigroup (NYSE:C) last posted 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 company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. 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 dividend payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

C has been the topic of several recent analyst reports. Bank of America boosted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. 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 price objective on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.