Citigroup Inc. (NYSE:C) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC lowered its position in Citigroup Inc. (NYSE:C) by 20.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,036 shares of the company’s stock after selling 800 shares during the period. Requisite Capital Management LLC’s holdings in Citigroup were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of Citigroup by 3.8% during the 2nd quarter. Mackenzie Financial Corp now owns 1,519,721 shares of the company’s stock worth $96,441,000 after acquiring an additional 55,889 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Citigroup by 7.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 552,341 shares of the company’s stock worth $35,052,000 after purchasing an additional 37,000 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in Citigroup by 3.9% in the second quarter. Kathmere Capital Management LLC now owns 9,352 shares of the company’s stock valued at $593,000 after purchasing an additional 347 shares during the last quarter. Ascent Group LLC increased its position in shares of Citigroup by 5.5% in the second quarter. Ascent Group LLC now owns 35,559 shares of the company’s stock valued at $2,257,000 after buying an additional 1,855 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Citigroup by 2.9% during the 2nd quarter. Creative Planning now owns 378,990 shares of the company’s stock worth $24,051,000 after buying an additional 10,518 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $81.41 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $153.96 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The company’s 50-day simple moving average is $72.47 and its 200-day simple moving average is $66.11.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Truist Financial started coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.