Sachetta LLC Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

Sachetta LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 17.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 642 shares of the company’s stock after selling 138 shares during the period. Sachetta LLC’s holdings in Citigroup were worth $45,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. 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 worth $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Citigroup by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Legal & General Group Plc lifted its position in Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares during the last quarter. Finally, Greenhaven Associates Inc. boosted its stake in Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE C opened at $81.41 on Friday. The firm has a market capitalization of $153.96 billion, a P/E ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43. The stock has a 50-day simple moving average of $72.47 and a two-hundred day simple moving average of $66.11. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup declared that its board has authorized a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

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 given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s dividend payout ratio is presently 37.65%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on C. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Oppenheimer cut their price objective 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 upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Morgan Stanley upped 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.