Bank & Trust Co Trims Stock Position in Citigroup Inc. (NYSE:C)

Bank & Trust Co reduced its holdings in Citigroup Inc. (NYSE:C) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,054 shares of the company’s stock after selling 331 shares during the period. Citigroup comprises 2.0% of Bank & Trust Co’s holdings, making the stock its 11th largest position. Bank & Trust Co’s holdings in Citigroup were worth $2,327,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in C. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup during the second quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at $31,000. Strategic Financial Concepts LLC increased its position in shares of Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after purchasing an additional 48,484 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of Citigroup stock traded up $1.18 during trading on Tuesday, reaching $73.92. The company’s stock had a trading volume of 7,250,088 shares, compared to its average volume of 11,852,766. The business has a 50 day moving average price of $69.50 and a 200-day moving average price of $64.74. The company has a market capitalization of $139.80 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. 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 12-month low of $50.51 and a 12-month high of $74.21.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on C shares. Morgan Stanley cut their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Piper Sandler lifted their price objective on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Friday. Bank of America boosted their price target on shares of Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.80.

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.