Oakworth Capital Inc. Sells 252 Shares of Citigroup Inc. (NYSE:C)

Oakworth Capital Inc. cut its holdings in shares of Citigroup Inc. (NYSE:C) by 8.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,692 shares of the company’s stock after selling 252 shares during the period. Oakworth Capital Inc.’s holdings in Citigroup were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new stake in Citigroup during the third quarter worth about $4,607,000. Brookstone Capital Management lifted its holdings in shares of Citigroup by 38.5% during the 3rd quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock worth $512,000 after acquiring an additional 2,274 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Citigroup during the 3rd quarter worth approximately $94,000. CWM LLC increased its stake in Citigroup by 12.3% in the third quarter. CWM LLC now owns 73,901 shares of the company’s stock valued at $4,626,000 after acquiring an additional 8,097 shares during the last quarter. Finally, Wedmont Private Capital raised its position in Citigroup by 5.0% during the third quarter. Wedmont Private Capital now owns 15,293 shares of the company’s stock valued at $957,000 after purchasing an additional 722 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of Citigroup stock opened at $82.45 on Friday. The stock has a market cap of $155.94 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. The company’s fifty day moving average is $74.45 and its 200 day moving average is $67.02.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $19.51 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts forecast that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.72%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on C. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.