Citigroup Inc. (NYSE:C) Shares Bought by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. grew its position in Citigroup Inc. (NYSE:C) by 18.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,316 shares of the company’s stock after acquiring an additional 208 shares during the period. Armstrong Advisory Group Inc.’s holdings in Citigroup were worth $93,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the period. Legal & General Group Plc boosted its stake in shares of Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after buying an additional 913,231 shares during the last quarter. Finally, Greenhaven Associates Inc. grew its holdings in Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after acquiring an additional 242,545 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of a number of analyst reports. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, 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 research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 0.3 %

Shares of C opened at $78.51 on Friday. The stock has a 50 day moving average price of $70.78 and a 200 day moving average price of $65.32. 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 stock has a market capitalization of $148.47 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a one year low of $50.51 and a one year high of $79.25.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

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

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 issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

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.