Farmers Trust Co. Has $5.79 Million Holdings in Citigroup Inc. (NYSE:C)

Farmers Trust Co. reduced its stake in Citigroup Inc. (NYSE:C) by 3.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 82,211 shares of the company’s stock after selling 2,505 shares during the quarter. Farmers Trust Co.’s holdings in Citigroup were worth $5,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Caxton Associates LP increased its holdings in shares of Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after buying an additional 1,937,038 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Citigroup by 70.0% in 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 acquiring an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in Citigroup by 9.8% during the 3rd 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 during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler increased their price objective on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Truist Financial initiated coverage on Citigroup in a report on Tuesday. They set a “buy” rating and a $85.00 target price on the stock. Finally, Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.13.

Citigroup Trading Down 0.8 %

Shares of Citigroup stock traded down $0.57 during midday trading on Wednesday, reaching $73.11. 8,920,776 shares of the company’s stock traded hands, compared to its average volume of 13,423,563. The company has a market cap of $138.27 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The stock has a 50 day moving average of $69.68 and a 200-day moving average of $64.84. Citigroup Inc. has a 12 month low of $50.51 and a 12 month high of $74.29. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts expect that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

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.