Grove Bank & Trust Increases Stake in Citigroup Inc. (NYSE:C)

Grove Bank & Trust increased its position in shares of Citigroup Inc. (NYSE:C) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the company’s stock after purchasing an additional 436 shares during the period. Grove Bank & Trust’s holdings in Citigroup were worth $211,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup in the second quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new position in Citigroup in the 3rd quarter worth about $31,000. GHP Investment Advisors Inc. lifted its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 2.0 %

Citigroup stock opened at $80.05 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap 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. The stock has a 50-day moving average of $71.22 and a two-hundred day moving average of $65.53. Citigroup Inc. has a one year low of $50.51 and a one year high of $80.45.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. On average, research analysts anticipate that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

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

Citigroup Dividend Announcement

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

Analyst Upgrades and Downgrades

C has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group increased their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.