Seelaus Asset Management LLC Acquires 3,780 Shares of Citigroup Inc. (NYSE:C)

Seelaus Asset Management LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 46.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,876 shares of the company’s stock after acquiring an additional 3,780 shares during the period. Seelaus Asset Management LLC’s holdings in Citigroup were worth $836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new position in Citigroup during the 3rd quarter worth $31,000. Northwest Investment Counselors LLC purchased a new position in Citigroup during the 3rd quarter worth $28,000. Webster Bank N. A. increased its holdings in 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. increased its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in Citigroup during the 4th quarter worth $42,000. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley raised their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 0.7 %

Citigroup stock opened at $81.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50-day simple moving average is $74.67 and its two-hundred day simple moving average is $67.16. The company has a market cap of $154.57 billion, a PE ratio of 13.74, a PEG ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.91.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

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 paid a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.74%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.