MassMutual Private Wealth & Trust FSB Acquires 140 Shares of Citigroup Inc. (NYSE:C)

MassMutual Private Wealth & Trust FSB increased its holdings in shares of Citigroup Inc. (NYSE:C) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,405 shares of the company’s stock after purchasing an additional 140 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Citigroup were worth $592,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after buying an additional 791,758 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 3.2% during 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 last quarter. Legal & General Group Plc boosted its position in shares of Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. grew its stake in Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after buying an additional 242,545 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 2.2 %

Citigroup stock opened at $81.74 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $154.59 billion, a PE ratio of 13.74, a P/E/G ratio of 0.64 and a beta of 1.43. The stock’s 50 day simple moving average is $71.43 and its two-hundred day simple moving average is $65.65. Citigroup Inc. has a 12 month low of $51.95 and a 12 month high of $81.85.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Analysts anticipate that Citigroup Inc. will post 7.49 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.74%. Citigroup’s payout ratio is 37.65%.

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

Wall Street Analyst Weigh In

A number of research firms have commented on C. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Piper Sandler restated 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. Oppenheimer lowered 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. Finally, Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.