Rhumbline Advisers Sells 102,429 Shares of Citigroup Inc. (NYSE:C)

Rhumbline Advisers lessened its position in Citigroup Inc. (NYSE:C) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,447,652 shares of the company’s stock after selling 102,429 shares during the period. Rhumbline Advisers’ holdings in Citigroup were worth $242,680,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Hemington Wealth Management raised its stake in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after buying an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after acquiring an additional 140 shares during the period. Avitas Wealth Management LLC grew its holdings in shares of Citigroup by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after acquiring an additional 143 shares during the period. Robertson Stephens Wealth Management LLC increased its position in Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after acquiring an additional 150 shares during the last quarter. Finally, Lifestyle Asset Management Inc. lifted its holdings in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America lifted 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. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Trading Up 3.1 %

Citigroup stock opened at $84.62 on Friday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.67. The firm’s 50 day moving average price is $75.69 and its 200-day moving average price is $67.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $160.04 billion, a P/E ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the firm posted $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

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

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.