Griffin Asset Management Inc. Has $1.25 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Griffin Asset Management Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 33.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,732 shares of the company's stock after selling 8,729 shares during the quarter. Griffin Asset Management Inc.'s holdings in Citigroup were worth $1,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup in the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup during the second quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup during the 3rd quarter worth approximately $31,000. Webster Bank N. A. grew its holdings in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock worth $35,000 after buying an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% in 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 in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Down 1.4 %

NYSE C traded down $1.10 on Tuesday, hitting $79.97. 14,817,079 shares of the stock were exchanged, compared to its average volume of 17,904,785. The company's 50-day moving average price is $72.71 and its two-hundred day moving average price is $66.21. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77. The company has a market capitalization of $151.24 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C - Get Free Report) last announced its 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter last year, the company posted $0.84 EPS. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts predict that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup announced that its board has authorized a share 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 buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. Citigroup's payout ratio is presently 37.65%.

Analyst Upgrades and Downgrades

C has been the subject of several analyst reports. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Piper Sandler restated an "overweight" rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Wells Fargo & Company upped their price target on Citigroup from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price on the stock. Finally, Evercore ISI lifted their price objective on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.93.

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.