Caprock Group LLC boosted its position in Citigroup Inc. (NYSE:C – Free Report) by 27.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,628 shares of the company’s stock after buying an additional 17,466 shares during the period. Caprock Group LLC’s holdings in Citigroup were worth $5,675,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the third quarter worth about $31,000. Webster Bank N. A. raised its holdings in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently issued reports on C shares. Morgan Stanley boosted their price target 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. Evercore ISI boosted 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. Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $83.93.
Citigroup Price Performance
Shares of NYSE:C opened at $81.43 on Friday. The company’s fifty day moving average price is $73.67 and its 200-day moving average price is $66.64. 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 firm has a market capitalization of $154.01 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77.
Citigroup (NYSE:C – Get Free Report) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating 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 business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.
Citigroup Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s payout ratio is 37.65%.
Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board 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.
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