McGlone Suttner Wealth Management Inc. Invests $212,000 in Citigroup Inc. (NYSE:C)

McGlone Suttner Wealth Management Inc. purchased a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 3,006 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the second quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup in the third quarter valued at $31,000. GHP Investment Advisors Inc. raised its stake 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 buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake 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 buying an additional 260 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

C stock opened at $81.41 on Friday. The firm has a 50 day moving average of $72.47 and a 200-day moving average of $66.11. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given 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 dividend yield of 2.75%. Citigroup’s dividend payout ratio is currently 37.65%.

Analysts Set New Price Targets

A number of analysts have weighed in on C shares. The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.