3,596 Shares in Citigroup Inc. (NYSE:C) Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,596 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third 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 buying an additional 300 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Citigroup by 184.0% during the third 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. lifted its position in Citigroup by 69.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

C stock opened at $79.59 on Tuesday. The company has a market capitalization of $150.52 billion, a P/E ratio of 13.38, a PEG ratio of 0.64 and a beta of 1.44. The company has a 50-day simple moving average of $73.85 and a 200 day simple moving average of $66.73. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. 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 issued its quarterly earnings results 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 company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm 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. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.