WASHINGTON TRUST Co Sells 550 Shares of Citigroup Inc. (NYSE:C)

WASHINGTON TRUST Co lowered its stake in shares of Citigroup Inc. (NYSE:C) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,700 shares of the company’s stock after selling 550 shares during the quarter. WASHINGTON TRUST Co’s holdings in Citigroup were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Citigroup by 2.0% during the third 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 in the last quarter. Franklin Resources Inc. raised its stake in 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 acquiring an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC raised its stake in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after acquiring an additional 1,404,120 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after acquiring an additional 240,628 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $84.62 on Friday. The business’s 50-day simple moving average is $75.69 and its 200 day simple moving average is $67.76. The stock has a market cap of $160.04 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.67. 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 (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate 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 prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has authorized a stock repurchase plan 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 plans are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Oppenheimer dropped their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group increased their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to 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.