JB Capital LLC Buys 1,016 Shares of Citigroup Inc. (NYSE:C)

JB Capital LLC grew its stake in Citigroup Inc. (NYSE:C) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,520 shares of the company’s stock after purchasing an additional 1,016 shares during the quarter. JB Capital LLC’s holdings in Citigroup were worth $3,345,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of C. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the third quarter valued at approximately $31,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup during the 3rd quarter valued at $28,000. Webster Bank N. A. raised its stake in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. 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 worth $36,000 after buying an additional 368 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new position in Citigroup during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America upped their price target 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. Piper Sandler reiterated 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. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Oppenheimer reduced their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

Shares of C opened at $81.43 on Monday. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77. 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 $154.01 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.64 and a beta of 1.44. The business’s 50 day moving average price is $73.67 and its 200-day moving average price is $66.63.

Citigroup (NYSE:C) last released its quarterly earnings data 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 business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Equities research analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a share buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently announced 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 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

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.