CIBC Asset Management Inc Raises Stock Holdings in Citigroup Inc. (NYSE:C)

CIBC Asset Management Inc lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 312,707 shares of the company’s stock after acquiring an additional 14,928 shares during the period. CIBC Asset Management Inc’s holdings in Citigroup were worth $22,011,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brookstone Capital Management grew its position in Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. boosted its stake in shares of Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after buying an additional 20,000 shares during the period. HighTower Advisors LLC grew its holdings in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after buying an additional 8,301 shares during the last quarter. FNY Investment Advisers LLC increased its position in Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares during the period. Finally, KBC Group NV raised its stake in Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after acquiring an additional 20,291 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C opened at $84.62 on Tuesday. The firm has a market capitalization of $160.04 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.65 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. The business’s 50 day simple moving average is $75.95 and its 200-day simple moving average is $67.93. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.67.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the business earned $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued 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 yield of 2.65%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. 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 report on Monday, January 6th. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.