Davidson Investment Advisors Purchases 3,087 Shares of Citigroup Inc. (NYSE:C)

Davidson Investment Advisors boosted its position in shares of Citigroup Inc. (NYSE:C) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,085 shares of the company’s stock after buying an additional 3,087 shares during the period. Citigroup makes up approximately 1.5% of Davidson Investment Advisors’ investment portfolio, making the stock its 17th largest position. Davidson Investment Advisors’ holdings in Citigroup were worth $30,626,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Core Alternative Capital boosted its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the third quarter worth $31,000. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, Creative Capital Management Investments LLC acquired a new position in shares of Citigroup during the fourth quarter worth $35,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Truist Financial initiated coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 3.1 %

NYSE:C opened at $84.62 on Tuesday. 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 company has a 50-day moving average price of $75.95 and a 200-day moving average price of $67.93. The stock has a market cap of $160.04 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.67.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share 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 during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the business earned $0.84 EPS. Citigroup’s revenue was up 12.3% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are 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.