Mitchell Mcleod Pugh & Williams Inc. Trims Holdings in Citigroup Inc. (NYSE:C)

Mitchell Mcleod Pugh & Williams Inc. reduced its stake in Citigroup Inc. (NYSE:C) by 21.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,606 shares of the company’s stock after selling 2,313 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Citigroup were worth $606,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Citigroup during the third quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter worth about $31,000. GHP Investment Advisors Inc. boosted its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America upped their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Four equities 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

NYSE C opened at $80.05 on Monday. The company has a fifty day moving average of $71.22 and a two-hundred day moving average of $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 Inc. has a 1 year low of $50.51 and a 1 year high of $80.45. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. As a group, analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup declared that its board has initiated a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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.