Flagship Harbor Advisors LLC Has $594,000 Holdings in Citigroup Inc. (NYSE:C)

Flagship Harbor Advisors LLC trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,438 shares of the company’s stock after selling 1,602 shares during the period. Flagship Harbor Advisors LLC’s holdings in Citigroup were worth $594,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in C. Geode Capital Management LLC grew its stake in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after acquiring an additional 791,758 shares in the last quarter. Franklin Resources Inc. boosted its holdings 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 purchasing an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC grew its position in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares in the last quarter. Greenhaven Associates Inc. increased its stake in Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $79.97 on Wednesday. The firm has a market cap of $151.24 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The business’s 50 day moving average is $72.93 and its 200-day moving average is $66.32. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

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

Citigroup announced that its Board of Directors has initiated 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 reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on 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 Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research 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. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus 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.