Congress Park Capital LLC acquired a new stake in Citigroup Inc. (NYSE:C – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,275 shares of the company’s stock, valued at approximately $442,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lifestyle Asset Management Inc. lifted its stake in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares during the period. Grove Bank & Trust lifted its position in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the period. MWA Asset Management boosted its stake in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares in the last quarter. Bridge Creek Capital Management LLC raised 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 worth $4,209,000 after buying an additional 175 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Citigroup by 9.3% in the third quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock worth $128,000 after buying an additional 175 shares during the period. 71.72% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Evercore ISI increased their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, Bank of America boosted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.
Citigroup Stock Performance
C stock opened at $78.51 on Friday. The stock’s 50 day simple moving average is $70.78 and its 200 day simple moving average is $65.32. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12-month low of $50.51 and a 12-month high of $79.25. The stock has a market capitalization of $148.47 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, research analysts forecast that Citigroup Inc. will post 5.88 earnings per share 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 issued 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 is Monday, February 3rd. Citigroup’s payout ratio is presently 64.93%.
Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.
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