Hartford Investment Management Co. Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Hartford Investment Management Co. lowered its position in Citigroup Inc. (NYSE:C) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,782 shares of the company’s stock after selling 3,296 shares during the quarter. Hartford Investment Management Co.’s holdings in Citigroup were worth $8,220,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the 3rd quarter worth $31,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter valued at about $28,000. Webster Bank N. A. grew its position in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on C. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

C opened at $81.17 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average of $75.05 and a 200 day moving average of $67.41. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.91. The stock has a market cap 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 posted 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 company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its board has authorized a stock repurchase plan 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 plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

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 issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.76%. Citigroup’s payout ratio is 37.65%.

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.