Cidel Asset Management Inc. Sells 3,687 Shares of Citigroup Inc. (NYSE:C)

Cidel Asset Management Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 9.9% in the 4th quarter, HoldingsChannel reports. The fund owned 33,501 shares of the company’s stock after selling 3,687 shares during the quarter. Cidel Asset Management Inc.’s holdings in Citigroup were worth $2,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB acquired a new stake in Citigroup during the 3rd quarter worth approximately $4,607,000. Brookstone Capital Management raised its position in shares of Citigroup by 38.5% in 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 in the last quarter. CWM LLC lifted 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 buying an additional 8,097 shares during the period. Wedmont Private Capital boosted its stake in Citigroup by 5.0% during the third quarter. Wedmont Private Capital now owns 15,293 shares of the company’s stock worth $957,000 after acquiring an additional 722 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its stake in shares of Citigroup by 1.9% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 11,454 shares of the company’s stock valued at $717,000 after buying an additional 210 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C opened at $81.73 on Friday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.91. The firm has a 50-day moving average of $74.67 and a 200 day moving average of $67.14. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $154.57 billion, a P/E ratio of 13.74, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last issued 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. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, research analysts expect that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup announced that its board has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The firm 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. This represents a $2.24 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on C. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.