Citigroup Inc. (NYSE:C) Position Cut by Highland Capital Management LLC

Highland Capital Management LLC decreased its stake in Citigroup Inc. (NYSE:C - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,011 shares of the company's stock after selling 3,895 shares during the period. Citigroup makes up 0.8% of Highland Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Highland Capital Management LLC's holdings in Citigroup were worth $13,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock valued at $592,000 after purchasing an additional 140 shares in the last quarter. Lifestyle Asset Management Inc. lifted its stake in shares of Citigroup by 4.5% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company's stock worth $233,000 after purchasing an additional 160 shares during the period. Grove Bank & Trust grew its position in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company's stock valued at $161,000 after purchasing an additional 170 shares during the period. MWA Asset Management increased its stake in Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company's stock valued at $788,000 after purchasing an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC lifted its position in Citigroup by 0.3% during the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company's stock worth $4,209,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on C shares. The Goldman Sachs Group upped their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price on the stock. Morgan Stanley boosted their price target on Citigroup from $104.00 to $109.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a report 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 data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $83.93.

Citigroup Stock Up 1.5 %

C traded up $1.20 during trading on Thursday, hitting $81.83. The company had a trading volume of 6,637,865 shares, compared to its average volume of 16,999,002. The company has a market cap of $154.77 billion, a PE ratio of 13.81, a P/E/G ratio of 0.65 and a beta of 1.43. 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 1-year low of $52.24 and a 1-year high of $82.77. The business has a 50-day moving average of $73.18 and a 200-day moving average of $66.42.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analysts' expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup's dividend payout ratio is currently 37.65%.

Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.