Citigroup Inc. (NYSE:C) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 236,809 shares of the company’s stock after selling 7,614 shares during the period. Citigroup accounts for 2.3% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 15th biggest position. Beach Investment Counsel Inc. PA’s holdings in Citigroup were worth $16,669,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of C. AMF Tjanstepension AB acquired a new stake in Citigroup in the third quarter worth $4,607,000. Czech National Bank boosted its stake in Citigroup by 6.9% during the 3rd quarter. Czech National Bank now owns 388,638 shares of the company’s stock valued at $24,329,000 after purchasing an additional 25,158 shares during the period. GAMMA Investing LLC grew its position in Citigroup by 15.3% in the 3rd quarter. GAMMA Investing LLC now owns 27,073 shares of the company’s stock worth $1,695,000 after purchasing an additional 3,601 shares during the last quarter. Herbst Group LLC increased its stake in shares of Citigroup by 16.4% in the third quarter. Herbst Group LLC now owns 18,856 shares of the company’s stock valued at $1,180,000 after purchasing an additional 2,655 shares during the period. Finally, Fulton Bank N.A. raised its holdings in shares of Citigroup by 1.8% during the third quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock valued at $892,000 after buying an additional 258 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.2 %

C stock opened at $79.80 on Tuesday. The firm has a market cap of $150.92 billion, a PE ratio of 13.41, a PEG ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The company has a fifty day simple moving average of $73.85 and a 200 day simple moving average of $66.73. 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 (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the business earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.81%. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on C. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Bank of America upped their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.