New Mexico Educational Retirement Board Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

New Mexico Educational Retirement Board decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 90,926 shares of the company’s stock after selling 2,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Citigroup were worth $6,400,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in C. Core Alternative Capital boosted its holdings in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at about $31,000. Webster Bank N. A. boosted its holdings in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Citigroup by 184.0% in 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. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on C shares. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Morgan Stanley lifted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

NYSE:C opened at $84.62 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $160.04 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The company has a 50 day moving average price of $75.69 and a 200-day moving average price of $67.75. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.67.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 7.43% and a return on equity of 6.62%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business 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. This represents a $2.24 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.