Citigroup Inc. (NYSE:C) Shares Purchased by CX Institutional

CX Institutional increased its stake in shares of Citigroup Inc. (NYSE:C) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,860 shares of the company’s stock after acquiring an additional 807 shares during the period. CX Institutional’s holdings in Citigroup were worth $976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of C. Northwest Investment Counselors LLC acquired a new stake in Citigroup in the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the second quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup in the third quarter valued at approximately $31,000. GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

C stock opened at $81.41 on Friday. The business has a fifty day moving average of $72.47 and a two-hundred day moving average of $66.11. 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 stock has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during 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 firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, research analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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

Wall Street Analyst Weigh In

Several brokerages have commented on C. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Morgan Stanley raised 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. Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company raised their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.