Perpetual Ltd Sells 16,107 Shares of Citigroup Inc. (NYSE:C)

Perpetual Ltd lessened its holdings in Citigroup Inc. (NYSE:C) by 44.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,499 shares of the company’s stock after selling 16,107 shares during the period. Perpetual Ltd’s holdings in Citigroup were worth $1,443,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of C. MassMutual Private Wealth & Trust FSB boosted its position in Citigroup by 1.7% in the fourth 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 during the last quarter. Lifestyle Asset Management Inc. boosted its holdings in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after buying an additional 160 shares during the last quarter. Grove Bank & Trust grew its position in Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the period. MWA Asset Management increased its holdings in Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after buying an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC raised its position in Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised 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. Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 2.2 %

Citigroup stock opened at $81.74 on Wednesday. The stock has a market cap of $154.59 billion, a P/E ratio of 13.74, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $51.95 and a fifty-two week high of $81.85. The firm’s fifty day moving average price is $71.43 and its 200-day moving average price is $65.65. 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 (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Citigroup Inc. will post 7.49 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business 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 $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its Board of Directors has initiated a share buyback plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

About Citigroup

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.