KLCM Advisors Inc. Sells 19,426 Shares of Citigroup Inc. (NYSE:C)

KLCM Advisors Inc. reduced its position in Citigroup Inc. (NYSE:C) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 436,860 shares of the company’s stock after selling 19,426 shares during the period. Citigroup accounts for 3.6% of KLCM Advisors Inc.’s investment portfolio, making the stock its 3rd biggest holding. KLCM Advisors Inc.’s holdings in Citigroup were worth $30,751,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in C. Geode Capital Management LLC boosted its stake in Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after purchasing an additional 240,628 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Bank of America increased their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their price objective 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 3.1 %

NYSE:C opened at $84.62 on Monday. The company has a market cap of $160.04 billion, a PE ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. The stock has a 50-day simple moving average of $75.69 and a 200 day simple moving average of $67.78. 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 52-week low of $53.51 and a 52-week high of $84.67.

Citigroup (NYSE:C) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. Citigroup’s dividend payout ratio is 37.65%.

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.