Sippican Capital Advisors Sells 1,370 Shares of Citigroup Inc. (NYSE:C)

Sippican Capital Advisors reduced its stake in Citigroup Inc. (NYSE:C) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,784 shares of the company’s stock after selling 1,370 shares during the period. Citigroup comprises 1.9% of Sippican Capital Advisors’ holdings, making the stock its 13th largest position. Sippican Capital Advisors’ holdings in Citigroup were worth $2,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of C. Northwest Investment Counselors LLC bought a new position in shares of Citigroup in the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the second quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the third quarter valued at approximately $31,000. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.9 %

C stock opened at $80.66 on Thursday. The business’s 50-day moving average is $73.18 and its two-hundred day moving average is $66.42. The company has a market cap of $152.54 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. 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 posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm posted $0.84 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

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

Citigroup Dividend Announcement

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 given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Bank of America upped their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price objective 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. Morgan Stanley upped their target price 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. Finally, Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.