Nexus Investment Management ULC Has $35.24 Million Stake in Citigroup Inc. (NYSE:C)

Nexus Investment Management ULC lowered its stake in Citigroup Inc. (NYSE:C) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500,670 shares of the company’s stock after selling 22,000 shares during the period. Citigroup accounts for 3.5% of Nexus Investment Management ULC’s portfolio, making the stock its 12th largest position. Nexus Investment Management ULC’s holdings in Citigroup were worth $35,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Kera Capital Partners Inc. acquired a new stake in Citigroup in the fourth quarter worth about $236,000. Herbst Group LLC boosted its stake in shares of Citigroup by 19.4% in the 4th quarter. Herbst Group LLC now owns 22,511 shares of the company’s stock valued at $1,585,000 after purchasing an additional 3,655 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Citigroup by 13.5% during the 4th quarter. HB Wealth Management LLC now owns 48,731 shares of the company’s stock worth $3,430,000 after buying an additional 5,802 shares during the period. Shelton Wealth Management LLC raised its stake in shares of Citigroup by 4.0% during the fourth quarter. Shelton Wealth Management LLC now owns 16,024 shares of the company’s stock worth $1,128,000 after buying an additional 609 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in Citigroup by 1.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 14,242 shares of the company’s stock valued at $1,003,000 after buying an additional 202 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI increased their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 2.0 %

Shares of C stock opened at $80.05 on Friday. The firm’s fifty day moving average price is $71.22 and its two-hundred day moving average price is $65.52. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $80.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last released its 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. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities analysts predict that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Citigroup declared that its board has approved a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are typically 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.