FARMERS & MERCHANTS TRUST Co OF LONG BEACH Trims Stock Position in Citigroup Inc. (NYSE:C)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its holdings in Citigroup Inc. (NYSE:C) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,561 shares of the company’s stock after selling 539 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Citigroup were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of C. Geode Capital Management LLC raised its stake in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after buying an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. boosted its position in Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after acquiring an additional 242,545 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Morgan Stanley increased their price target on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 2.0 %

NYSE:C opened at $80.05 on Friday. The business’s 50-day moving average is $71.22 and its two-hundred day moving average is $65.52. The firm has a market capitalization of $151.40 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a 12 month low of $50.51 and a 12 month 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 announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The business 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 company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Research analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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

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.