Parsons Capital Management Inc. RI Has $1.62 Million Stock Position in Citigroup Inc. (NYSE:C)

Parsons Capital Management Inc. RI lifted its holdings in Citigroup Inc. (NYSE:C) by 191.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,962 shares of the company’s stock after purchasing an additional 15,095 shares during the period. Parsons Capital Management Inc. RI’s holdings in Citigroup were worth $1,616,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the last quarter. Lifestyle Asset Management Inc. grew its stake in Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after buying an additional 160 shares during the last quarter. Grove Bank & Trust grew its stake in Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the last quarter. MWA Asset Management lifted its position in Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC boosted its holdings in Citigroup by 0.3% during the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after acquiring an additional 175 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on C shares. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Wells Fargo & Company upped their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI raised their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Truist Financial began coverage on shares of Citigroup in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 0.5 %

C opened at $81.07 on Tuesday. The firm has a market cap of $153.33 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.65 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50-day simple moving average is $72.71 and its 200-day simple moving average is $66.21. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

The firm 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 $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.76%. Citigroup’s payout ratio is 37.65%.

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.