Citigroup Inc. (NYSE:C) Shares Sold by Greenhaven Associates Inc.

Greenhaven Associates Inc. cut its position in Citigroup Inc. (NYSE:C) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,870,765 shares of the company’s stock after selling 12,626 shares during the period. Citigroup makes up 17.6% of Greenhaven Associates Inc.’s holdings, making the stock its 3rd largest position. Greenhaven Associates Inc. owned approximately 0.89% of Citigroup worth $1,187,533,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Proquility Private Wealth Partners LLC increased its holdings in Citigroup by 0.5% in the fourth quarter. Proquility Private Wealth Partners LLC now owns 67,482 shares of the company’s stock valued at $4,750,000 after buying an additional 310 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Citigroup during the fourth quarter worth approximately $26,561,000. JBGlobal.com LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at approximately $292,000. Atomi Financial Group Inc. raised its stake in shares of Citigroup by 12.8% during the 4th quarter. Atomi Financial Group Inc. now owns 29,305 shares of the company’s stock worth $2,063,000 after buying an additional 3,334 shares during the period. Finally, Chesley Taft & Associates LLC grew its stake in Citigroup by 40.5% in the 4th quarter. Chesley Taft & Associates LLC now owns 69,939 shares of the company’s stock valued at $4,923,000 after acquiring an additional 20,158 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on C shares. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Piper Sandler restated 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. Truist Financial started 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. 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 research note on Thursday, January 16th. Finally, Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 2.2 %

Citigroup stock opened at $81.74 on Wednesday. Citigroup Inc. has a fifty-two week low of $51.95 and a fifty-two week high of $81.85. The firm has a 50 day moving average price of $71.68 and a 200 day moving average price of $65.77. The company has a market capitalization of $154.59 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its earnings results 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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the company posted $0.84 EPS. Citigroup’s revenue was up 12.3% compared to the same quarter last year. Research analysts expect that Citigroup Inc. will post 7.49 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.74%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management 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.