Citigroup Inc. (NYSE:C) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC raised its holdings in Citigroup Inc. (NYSE:C) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,731 shares of the company’s stock after purchasing an additional 5,802 shares during the period. HB Wealth Management LLC’s holdings in Citigroup were worth $3,430,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Brookstone Capital Management raised its position in shares of Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. lifted its holdings in shares of Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after buying an additional 20,000 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after buying an additional 8,301 shares during the period. FNY Investment Advisers LLC lifted its holdings in shares of Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on C shares. The Goldman Sachs Group raised their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

C opened at $80.05 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $151.40 billion, a PE ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The business’s 50-day simple moving average is $71.22 and its 200 day simple moving average is $65.53. Citigroup Inc. has a 52-week low of $50.51 and a 52-week high of $80.45.

Citigroup (NYSE:C) last announced its 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 4.70% and a return on equity of 6.19%. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current fiscal 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 of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.80%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership 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.