Allen Capital Group LLC Buys Shares of 3,462 Citigroup Inc. (NYSE:C)

Allen Capital Group LLC purchased a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,462 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares during the period. Greenhaven Associates Inc. raised its holdings in shares of Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on C shares. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research report 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, January 16th. 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, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Trading Up 0.9 %

NYSE C opened at $80.66 on Thursday. The stock has a market cap of $152.54 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The stock has a 50 day simple moving average of $73.18 and a two-hundred day simple moving average of $66.42. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. On average, analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

Citigroup 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.