West Branch Capital LLC Sells 1,425 Shares of Citigroup Inc. (NYSE:C)

West Branch Capital LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 72.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 551 shares of the company’s stock after selling 1,425 shares during the period. West Branch Capital LLC’s holdings in Citigroup were worth $39,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Simon Quick Advisors LLC raised its stake in Citigroup by 33.4% during the 4th quarter. Simon Quick Advisors LLC now owns 8,188 shares of the company’s stock worth $576,000 after buying an additional 2,049 shares during the period. Proquility Private Wealth Partners LLC increased its holdings in shares of Citigroup by 0.5% during the fourth quarter. Proquility Private Wealth Partners LLC now owns 67,482 shares of the company’s stock valued at $4,750,000 after acquiring an additional 310 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Citigroup during the fourth quarter worth approximately $26,561,000. JBGlobal.com LLC bought a new position in shares of Citigroup in the 4th quarter worth $292,000. Finally, Atomi Financial Group Inc. grew its position in Citigroup by 12.8% in the 4th quarter. Atomi Financial Group Inc. now owns 29,305 shares of the company’s stock valued at $2,063,000 after purchasing an additional 3,334 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C opened at $81.74 on Wednesday. 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 Inc. has a fifty-two week low of $51.95 and a fifty-two week high of $81.85. The stock has a market cap 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 stock has a fifty day moving average of $71.68 and a 200-day moving average of $65.77.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for 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%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 7.49 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a stock 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 typically a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

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

Analysts Set New Price Targets

C has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Bank of America raised their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.