Cidel Asset Management Inc. Trims Holdings in Citigroup Inc. (NYSE:C)

Cidel Asset Management Inc. reduced its position in shares of Citigroup Inc. (NYSE:C) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,501 shares of the company’s stock after selling 3,687 shares during the quarter. Cidel Asset Management Inc.’s holdings in Citigroup were worth $2,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares in the last quarter. Swedbank AB grew its position in Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after buying an additional 3,947,912 shares during the period. Caisse DE Depot ET Placement DU Quebec increased 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 purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB lifted its position 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 buying an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Citigroup by 103.6% during the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after purchasing an additional 1,410,950 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods increased 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. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 0.7 %

Shares of NYSE:C opened at $81.73 on Friday. The firm has a 50 day simple moving average of $74.67 and a 200 day simple moving average of $67.14. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $154.57 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.91.

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

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Citigroup announced that its board has initiated a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.