By otakuyassine3@gmail.com 
Everett Harris & Co. CA increased its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,281 shares of the company’s stock after purchasing an additional 5,150 shares during the period. Everett Harris & Co. CA’s holdings in Citigroup were worth $1,991,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in C. Heck Capital Advisors LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at approximately $97,000. GFS Advisors LLC acquired a new position in Citigroup in the 4th quarter valued at about $2,248,000. Caprock Group LLC increased its position in shares of Citigroup by 27.7% during the fourth quarter. Caprock Group LLC now owns 80,628 shares of the company’s stock worth $5,675,000 after acquiring an additional 17,466 shares during the period. Turtle Creek Wealth Advisors LLC lifted its stake in Citigroup by 10.8% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 10,337 shares of the company’s stock worth $728,000 after acquiring an additional 1,006 shares during the last quarter. Finally, Keudell Morrison Wealth Management grew its stake in shares of Citigroup by 4.9% during the fourth quarter. Keudell Morrison Wealth Management now owns 4,462 shares of the company’s stock worth $314,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on C. Oppenheimer cut their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. 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. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target 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. Finally, Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.93.
Read Our Latest Research Report on C
Citigroup Stock Down 0.5 %
C opened at $81.43 on Friday. The stock’s fifty day moving average is $73.67 and its 200-day moving average is $66.64. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The company has a market capitalization of $154.01 billion, a PE ratio of 13.69, a P/E/G ratio of 0.64 and a beta of 1.43. 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 (NYSE:C – Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post 7.51 EPS for the current fiscal year.
Citigroup announced that its board has approved a share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Citigroup Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.
Citigroup 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.
Further Reading
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