Citigroup Inc. (NYSE:C) Position Boosted by Global Trust Asset Management LLC

Global Trust Asset Management LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 42.7% during the 4th quarter, Holdings Channel reports. The fund owned 709 shares of the company’s stock after purchasing an additional 212 shares during the period. Global Trust Asset Management LLC’s holdings in Citigroup were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in C. Epoch Investment Partners Inc. increased its stake in shares of Citigroup by 14.9% during the second quarter. Epoch Investment Partners Inc. now owns 3,913 shares of the company’s stock valued at $248,000 after acquiring an additional 506 shares during the period. Evergreen Capital Management LLC boosted its stake in Citigroup by 8.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 15,613 shares of the company’s stock valued at $991,000 after purchasing an additional 1,281 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Citigroup by 60.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 366,870 shares of the company’s stock valued at $23,282,000 after purchasing an additional 138,888 shares during the period. Point72 Europe London LLP raised its stake in shares of Citigroup by 24.6% in the 2nd quarter. Point72 Europe London LLP now owns 94,800 shares of the company’s stock worth $6,016,000 after buying an additional 18,700 shares in the last quarter. Finally, ELCO Management Co. LLC acquired a new stake in shares of Citigroup in the second quarter valued at $244,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on C shares. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” 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 issued a “buy” rating and a $85.00 price target on the stock. Finally, Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Four investment 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 an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

NYSE C opened at $81.68 on Thursday. The company has a 50 day simple moving average of $71.94 and a 200-day simple moving average of $65.88. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.28. The firm has a market capitalization of $154.49 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued its 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 net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 7.49 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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.