Jmac Enterprises LLC Cuts Position in Citigroup Inc. (NYSE:C)

Jmac Enterprises LLC lessened its position in Citigroup Inc. (NYSE:C) by 7.3% during the fourth quarter, Holdings Channel reports. The fund owned 15,269 shares of the company’s stock after selling 1,200 shares during the period. Jmac Enterprises LLC’s holdings in Citigroup were worth $1,075,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in C. AMF Tjanstepension AB bought a new position in shares of Citigroup during the 3rd quarter valued at $4,607,000. Armstrong Advisory Group Inc. boosted its position in Citigroup by 72.3% during the third quarter. Armstrong Advisory Group Inc. now owns 1,108 shares of the company’s stock valued at $69,000 after buying an additional 465 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Citigroup during the third quarter valued at about $80,000. Stablepoint Partners LLC increased its holdings in shares of Citigroup by 10.0% in the third quarter. Stablepoint Partners LLC now owns 6,877 shares of the company’s stock worth $430,000 after buying an additional 628 shares during the period. Finally, Grove Bank & Trust lifted its stake 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 acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Bank of America upped 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

NYSE:C opened at $81.17 on Wednesday. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s 50-day moving average is $75.05 and its 200 day moving average is $67.41. The company has a market capitalization of $153.51 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last issued 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 company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm 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 $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.