Beacon Capital Management LLC Sells 312 Shares of Citigroup Inc. (NYSE:C)

Beacon Capital Management LLC cut its position in shares of Citigroup Inc. (NYSE:C) by 38.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 501 shares of the company’s stock after selling 312 shares during the quarter. Beacon Capital Management LLC’s holdings in Citigroup were worth $35,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of C. AMF Tjanstepension AB bought a new position in shares of Citigroup during the third quarter worth about $4,607,000. Creative Planning grew its stake in Citigroup by 0.6% in the third quarter. Creative Planning now owns 381,362 shares of the company’s stock valued at $23,873,000 after purchasing an additional 2,372 shares in the last quarter. Swedbank AB grew its stake in Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares in the last quarter. Blue Trust Inc. grew its stake in Citigroup by 86.9% in the third quarter. Blue Trust Inc. now owns 13,600 shares of the company’s stock valued at $863,000 after purchasing an additional 6,325 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Citigroup by 4.8% in the third quarter. First Citizens Bank & Trust Co. now owns 5,418 shares of the company’s stock valued at $339,000 after purchasing an additional 246 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE:C opened at $84.62 on Monday. 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. The stock has a 50 day simple moving average of $75.69 and a 200 day simple moving average of $67.78. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.67.

Citigroup (NYSE:C) last announced its quarterly earnings data 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. The firm had revenue of $19.58 billion during 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 company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

C has been the subject of a number of analyst reports. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Morgan Stanley raised their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target 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.