Stratos Investment Management LLC Increases Position in Citigroup Inc. (NYSE:C)

Stratos Investment Management LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 35.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 99,396 shares of the company’s stock after buying an additional 25,819 shares during the period. Stratos Investment Management LLC’s holdings in Citigroup were worth $6,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of C. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the third quarter worth approximately $31,000. Northwest Investment Counselors LLC bought a new position in Citigroup during the 3rd quarter valued at $28,000. Webster Bank N. A. grew its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter worth about $42,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on C shares. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. 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. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Finally, Truist Financial began coverage on shares of Citigroup in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

Shares of NYSE:C opened at $78.52 on Wednesday. The firm’s 50 day moving average is $74.02 and its two-hundred day moving average is $66.83. The firm has a market capitalization of $148.50 billion, a P/E ratio of 13.20, a PEG ratio of 0.64 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. Analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

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 paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis 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 37.65%.

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