Citigroup Inc. (NYSE:C) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its stake in Citigroup Inc. (NYSE:C) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,030 shares of the company’s stock after selling 11,004 shares during the quarter. Fifth Third Bancorp’s holdings in Citigroup were worth $9,153,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in Citigroup in the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup during the second quarter worth about $31,000. GHP Investment Advisors Inc. raised its holdings in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares in the last quarter. Finally, Berbice Capital Management LLC acquired a new stake in Citigroup in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer reduced their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Morgan Stanley upped their price target 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 raised their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Down 0.7 %

C opened at $81.41 on Monday. The business’s fifty day simple moving average is $72.47 and its 200 day simple moving average is $66.10. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77. The firm has a market cap of $153.96 billion, a P/E ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

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.