Congress Park Capital LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Congress Park Capital LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,275 shares of the company’s stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in C. Northwest Investment Counselors LLC bought a new position in Citigroup in the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the second quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup in the third quarter worth about $31,000. GHP Investment Advisors Inc. lifted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $78.51 on Friday. Citigroup Inc. has a 52-week low of $50.51 and a 52-week high of $79.25. The company has a market cap of $148.47 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.59 and a beta of 1.43. The firm’s fifty day moving average is $70.78 and its 200 day moving average is $65.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its quarterly 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 4.70% and a return on equity of 6.19%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup declared that its board has approved a share 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 reacquire 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 company 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 dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.85%. Citigroup’s payout ratio is 64.93%.

Analysts Set New Price Targets

C has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday. Bank of America upped 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. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday. Finally, Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.