Crossmark Global Holdings Inc. Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Crossmark Global Holdings Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,492 shares of the company’s stock after selling 43,246 shares during the period. Crossmark Global Holdings Inc.’s holdings in Citigroup were worth $24,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the period. Lifestyle Asset Management Inc. raised its holdings in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the last quarter. MWA Asset Management lifted its position in Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after acquiring an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC boosted its stake in Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after acquiring an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 2.0 %

NYSE:C opened at $80.05 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 52-week low of $50.51 and a 52-week high of $80.45. The stock’s 50 day moving average price is $71.22 and its 200 day moving average price is $65.54. The company has a market capitalization of $151.40 billion, a PE ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43.

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. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the business posted $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts anticipate that Citigroup Inc. will post 5.88 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

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 issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 64.93%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on C shares. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.