Griffin Asset Management Inc. Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Griffin Asset Management Inc. lowered its stake in Citigroup Inc. (NYSE:C) by 33.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,732 shares of the company’s stock after selling 8,729 shares during the period. Griffin Asset Management Inc.’s holdings in Citigroup were worth $1,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after buying an additional 1,410,950 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position 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 valued at $981,347,000 after buying an additional 1,404,120 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on C. Morgan Stanley increased their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI upped their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Performance

C stock opened at $81.07 on Tuesday. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The firm has a market cap of $153.33 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.65 and a beta of 1.43. 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 50-day simple moving average of $72.71 and a two-hundred day simple moving average of $66.21.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup announced that its board has approved a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

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 paid a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.76%. Citigroup’s payout ratio is currently 37.65%.

Citigroup 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.