Citigroup Inc. (NYSE:C) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its stake in shares of Citigroup Inc. (NYSE:C) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,561 shares of the company’s stock after selling 539 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Citigroup were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of C. InTrack Investment Management Inc increased its position in shares of Citigroup by 28.9% during the fourth quarter. InTrack Investment Management Inc now owns 19,412 shares of the company’s stock worth $1,427,000 after purchasing an additional 4,347 shares in the last quarter. Shikiar Asset Management Inc. increased its position in Citigroup by 6.0% during the fourth quarter. Shikiar Asset Management Inc. now owns 13,188 shares of the company’s stock worth $928,000 after buying an additional 750 shares during the period. TrueWealth Advisors LLC lifted its stake in Citigroup by 7.9% in the fourth quarter. TrueWealth Advisors LLC now owns 5,985 shares of the company’s stock valued at $421,000 after buying an additional 437 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Citigroup by 7.5% in the fourth quarter. Brooklyn Investment Group now owns 6,310 shares of the company’s stock valued at $444,000 after acquiring an additional 439 shares during the period. Finally, Albert D Mason Inc. purchased a new position in shares of Citigroup during the fourth quarter worth approximately $208,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent research reports. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $80.05 on Friday. 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 firm has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The company’s fifty day moving average is $71.22 and its two-hundred day moving average is $65.52.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 4.70% and a return on equity of 6.19%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup announced that its board has authorized a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

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.