Parkside Investments LLC Boosts Stock Holdings in Citigroup Inc. (NYSE:C)

Parkside Investments LLC grew its holdings in Citigroup Inc. (NYSE:C) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,189 shares of the company’s stock after purchasing an additional 2,130 shares during the quarter. Parkside Investments LLC’s holdings in Citigroup were worth $8,953,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in Citigroup in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the 3rd quarter worth approximately $31,000. Webster Bank N. A. lifted its position in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% in the third 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. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.7 %

Citigroup stock opened at $81.41 on Monday. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77. The firm has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The business’s 50-day moving average price is $72.47 and its 200 day moving average price is $66.10. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its 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 firm had revenue of $19.58 billion during 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%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.75%. 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 has approved a share buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America increased their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Truist Financial began 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, Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.