Chevy Chase Trust Holdings LLC Sells 30,693 Shares of Citigroup Inc. (NYSE:C)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Citigroup Inc. (NYSE:C) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999,870 shares of the company’s stock after selling 30,693 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Citigroup worth $70,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in C. Core Alternative Capital grew its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Citigroup during the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the 3rd quarter valued at approximately $31,000. Webster Bank N. A. grew its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 1.0 %

NYSE:C opened at $82.06 on Friday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $82.91. The company has a market cap of $155.19 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The stock has a fifty day simple moving average of $75.44 and a 200-day simple moving average of $67.61. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.73%. Citigroup’s payout ratio is currently 37.65%.

Citigroup announced that its board has authorized a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial started 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. The Goldman Sachs Group lifted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.