Confluence Wealth Services Inc. Increases Position in Citigroup Inc. (NYSE:C)

Confluence Wealth Services Inc. lifted its position in shares of Citigroup Inc. (NYSE:C) by 19.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,051 shares of the company’s stock after buying an additional 828 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Citigroup were worth $356,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB purchased a new stake in Citigroup in the 3rd quarter worth $4,607,000. Czech National Bank grew its holdings in shares of Citigroup by 6.9% in the third quarter. Czech National Bank now owns 388,638 shares of the company’s stock valued at $24,329,000 after purchasing an additional 25,158 shares in the last quarter. Fulton Bank N.A. increased its position in Citigroup by 1.8% in the third quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock worth $892,000 after purchasing an additional 258 shares during the last quarter. Aprio Wealth Management LLC bought a new stake in Citigroup in the third quarter worth $205,000. Finally, Brookstone Capital Management lifted its position in Citigroup by 38.5% during the third quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock valued at $512,000 after purchasing an additional 2,274 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on C. 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 report on Friday, January 3rd. Keefe, Bruyette & Woods boosted their price objective 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. Evercore ISI increased their price objective 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 boosted their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

C opened at $79.48 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $74.21 and its 200-day simple moving average is $66.91. The company has a market capitalization of $150.32 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77.

Citigroup (NYSE:C) last posted 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 net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue for the quarter 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 announced that its board has approved a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.82%. Citigroup’s dividend payout ratio is currently 37.65%.

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.