Royal Fund Management LLC Takes Position in Citigroup Inc. (NYSE:C)

Royal Fund Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,353 shares of the company’s stock, valued at approximately $1,292,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in Citigroup during the 3rd quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the second quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the third quarter valued at approximately $31,000. GHP Investment Advisors Inc. grew its position in Citigroup by 184.0% during 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, Hazlett Burt & Watson Inc. raised its holdings in shares of Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the subject of a number of recent research reports. Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Evercore ISI boosted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Up 2.0 %

C stock opened at $80.05 on Tuesday. Citigroup Inc. has a one year low of $50.51 and a one year high of $80.45. The stock 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. The company has a 50 day moving average price of $71.22 and a two-hundred day moving average price of $65.54. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

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 firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. As a group, sell-side analysts expect that Citigroup Inc. will post 5.88 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.80%. Citigroup’s dividend payout ratio is currently 64.93%.

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