Calamos Wealth Management LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Calamos Wealth Management LLC grew its stake in Citigroup Inc. (NYSE:C) by 17.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,072 shares of the company’s stock after acquiring an additional 614 shares during the period. Calamos Wealth Management LLC’s holdings in Citigroup were worth $287,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares in the last quarter. Lifestyle Asset Management Inc. grew its position in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after buying an additional 160 shares during the last quarter. Grove Bank & Trust raised its stake in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after acquiring an additional 170 shares in the last quarter. MWA Asset Management lifted its position in Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after acquiring an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC boosted its stake in Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after acquiring an additional 175 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on C shares. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Truist Financial began 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 upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Trading Down 1.4 %

Shares of C stock opened at $78.52 on Wednesday. The business’s fifty day moving average price is $74.02 and its 200 day moving average price is $66.83. The firm has a market capitalization of $148.50 billion, a PE ratio of 13.20, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

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

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.85%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has authorized a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.