Stephens Inc. AR Sells 7,388 Shares of Citigroup Inc. (NYSE:C)

Stephens Inc. AR trimmed its position in Citigroup Inc. (NYSE:C) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 114,362 shares of the company’s stock after selling 7,388 shares during the quarter. Stephens Inc. AR’s holdings in Citigroup were worth $8,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Citigroup by 2.0% during the third 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 stake in Citigroup by 18.5% in 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 during the last quarter. Fisher Asset Management LLC grew its position in shares of Citigroup by 3.2% during 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 acquiring an additional 911,694 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Citigroup by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after purchasing an additional 240,628 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on C shares. Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Morgan Stanley lifted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

NYSE:C opened at $81.73 on Monday. The stock has a market cap of $154.57 billion, a P/E ratio of 13.74, a PEG ratio of 0.65 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s 50-day moving average price is $74.67 and its two-hundred day moving average price is $67.18. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.91.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the company posted $0.84 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

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 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 dividend payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Citigroup 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.