Ballentine Partners LLC grew its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,232 shares of the company’s stock after acquiring an additional 772 shares during the period. Ballentine Partners LLC’s holdings in Citigroup were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. Culbertson A N & Co. Inc. boosted its holdings in Citigroup by 14.9% in the 4th quarter. Culbertson A N & Co. Inc. now owns 39,014 shares of the company’s stock worth $2,746,000 after buying an additional 5,065 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the period. Mechanics Bank Trust Department bought a new position in Citigroup in the 4th quarter worth $216,000. Diversify Advisory Services LLC lifted its stake in Citigroup by 1.9% in the 4th quarter. Diversify Advisory Services LLC now owns 12,225 shares of the company’s stock worth $873,000 after purchasing an additional 225 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its stake in Citigroup by 2.2% in the 4th quarter. Diversify Wealth Management LLC now owns 13,553 shares of the company’s stock worth $968,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.
Citigroup Stock Performance
Citigroup stock opened at $81.74 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $51.95 and a 1-year high of $81.85. The firm has a market capitalization of $154.59 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company’s 50-day moving average is $71.43 and its 200 day moving average is $65.65.
Citigroup Announces Dividend
The company also recently disclosed 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 yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.
Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.
Read Our Latest Research Report on Citigroup
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.
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