Citigroup Inc. (NYSE:C) Shares Bought by Grove Bank & Trust

Grove Bank & Trust lifted its stake in shares of Citigroup Inc. (NYSE:C) by 17.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,000 shares of the company’s stock after buying an additional 436 shares during the period. Grove Bank & Trust’s holdings in Citigroup were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of C. Brookstone Capital Management boosted its stake in Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. grew its stake in Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after acquiring an additional 20,000 shares in the last quarter. HighTower Advisors LLC raised its holdings in Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,280 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 2.0 %

Citigroup stock opened at $80.05 on Monday. The firm has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a twelve month low of $50.51 and a twelve month high of $80.45. The stock’s fifty day simple moving average is $71.22 and its 200-day simple moving average is $65.53.

Citigroup (NYSE:C) last posted 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 return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the company earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup declared that its board has approved a share repurchase plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on C shares. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus 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.