Citigroup Inc. (NYSE:C) Shares Purchased by Abundance Wealth Counselors

Abundance Wealth Counselors raised its position in Citigroup Inc. (NYSE:C) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 18,430 shares of the company’s stock after acquiring an additional 376 shares during the period. Abundance Wealth Counselors’ holdings in Citigroup were worth $1,297,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dana Investment Advisors Inc. grew its stake in shares of Citigroup by 1.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock worth $1,331,000 after purchasing an additional 312 shares during the period. Clearbridge Investments LLC grew its position in Citigroup by 99.2% during the second quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock worth $2,893,000 after buying an additional 22,706 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the second quarter worth about $31,000. Sanctuary Advisors LLC purchased a new position in Citigroup in the second quarter valued at about $8,471,000. Finally, Trust Co. of Toledo NA OH lifted its position in shares of Citigroup by 11.8% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 16,504 shares of the company’s stock valued at $1,033,000 after acquiring an additional 1,746 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.5 %

C stock opened at $81.43 on Friday. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The stock has a market capitalization of $154.01 billion, a P/E ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. The company has a 50 day moving average price of $73.67 and a two-hundred day moving average price of $66.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its earnings results 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. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, sell-side analysts expect that Citigroup Inc. will post 7.51 EPS for the current year.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on C. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. 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 objective on the stock. Finally, Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average 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.