Abner Herrman & Brock LLC Acquires 346 Shares of Citigroup Inc. (NYSE:C)

Abner Herrman & Brock LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 0.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 105,176 shares of the company’s stock after purchasing an additional 346 shares during the period. Abner Herrman & Brock LLC’s holdings in Citigroup were worth $7,403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup during the third quarter worth about $28,000. Webster Bank N. A. increased its holdings in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. GHP Investment Advisors Inc. lifted 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 buying an additional 368 shares during the period. Finally, Berbice Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $42,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $81.43 on Monday. The company’s 50 day moving average is $73.67 and its 200-day moving average is $66.63. The firm has a market cap of $154.01 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12-month low of $52.24 and a 12-month 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.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. 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 company earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. 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 payout ratio is currently 37.65%.

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

Wall Street Analysts Forecast Growth

C has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Company 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.