Matrix Trust Co Buys 1,126 Shares of Citigroup Inc. (NYSE:C)

Matrix Trust Co grew its position in Citigroup Inc. (NYSE:C) by 491.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,355 shares of the company’s stock after acquiring an additional 1,126 shares during the quarter. Matrix Trust Co’s holdings in Citigroup were worth $95,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Inspire Trust Co. N.A. raised its position in Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares during the last quarter. KBC Group NV increased its stake in shares of Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after buying an additional 20,291 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Citigroup by 4.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock valued at $24,710,000 after buying an additional 18,278 shares during the last quarter. Finally, TCW Group Inc. boosted its position in Citigroup by 8.6% during the 3rd quarter. TCW Group Inc. now owns 338,816 shares of the company’s stock worth $21,210,000 after buying an additional 26,882 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of several analyst reports. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group raised their target price on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America upped their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Piper Sandler increased their target price on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $80.13.

Citigroup Stock Performance

Shares of C opened at $72.94 on Tuesday. The stock has a 50-day moving average of $70.40 and a 200-day moving average of $65.15. Citigroup Inc. has a one year low of $50.51 and a one year high of $74.29. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $137.95 billion, a PE ratio of 21.14, a P/E/G ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.07%. Citigroup’s payout ratio is 64.93%.

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.