CKW Financial Group Lowers Stake in Citigroup Inc. (NYSE:C)

CKW Financial Group lowered its stake in shares of Citigroup Inc. (NYSE:C) by 11.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,500 shares of the company’s stock after selling 200 shares during the period. CKW Financial Group’s holdings in Citigroup were worth $106,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after buying an additional 791,758 shares during the period. Franklin Resources Inc. boosted its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Fisher Asset Management LLC boosted its position in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the period. Greenhaven Associates Inc. boosted its position in Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Citigroup by 9.8% in the 3rd 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. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $81.41 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.77. The company’s fifty day moving average price is $72.47 and its 200 day moving average price is $66.10.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm 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 $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s dividend payout ratio is presently 37.65%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective 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. 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 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Company 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.