4,419 Shares in Citigroup Inc. (NYSE:C) Purchased by Kentucky Trust Co

Kentucky Trust Co bought a new stake in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,419 shares of the company’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in 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 during the last quarter. Swedbank AB raised its holdings in shares of Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after acquiring an additional 3,947,912 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares during the period. Finally, SG Americas Securities LLC increased its position in Citigroup by 103.6% during the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after purchasing an additional 1,410,950 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on C. Truist Financial began 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. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Up 0.5 %

Citigroup stock opened at $81.17 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.91. The stock has a 50-day simple moving average of $75.05 and a 200-day simple moving average of $67.41. The company has a market capitalization of $153.51 billion, a P/E ratio of 13.64, a PEG ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating 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 period in the prior year, the company earned $0.84 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.76%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership 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.