Trust Point Inc. Reduces Stock Position in Citigroup Inc. (NYSE:C)

Trust Point Inc. trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,560 shares of the company’s stock after selling 1,282 shares during the quarter. Trust Point Inc.’s holdings in Citigroup were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in C. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 purchasing an additional 140 shares in the last quarter. Lifestyle Asset Management Inc. lifted its holdings in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares in the last quarter. Grove Bank & Trust increased its holdings in Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after buying an additional 170 shares in the last quarter. MWA Asset Management increased its holdings in Citigroup by 1.4% in the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after buying an additional 173 shares in the last quarter. Finally, Bridge Creek Capital Management LLC raised its position in Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on C shares. Keefe, Bruyette & Woods lifted 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. The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Performance

Shares of NYSE C opened at $78.52 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 $52.24 and a 1 year high of $82.77. The firm has a fifty day moving average price of $74.02 and a 200-day moving average price of $66.83. The stock has a market cap of $148.50 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.