Mirae Asset Global Investments Co. Ltd. Has $19.48 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Mirae Asset Global Investments Co. Ltd. increased its stake in Citigroup Inc. (NYSE:C) by 30.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 275,465 shares of the company’s stock after acquiring an additional 64,905 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Citigroup were worth $19,480,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new position in shares of Citigroup in the 3rd quarter worth about $4,607,000. Czech National Bank grew its stake in Citigroup by 6.9% during the third quarter. Czech National Bank now owns 388,638 shares of the company’s stock worth $24,329,000 after purchasing an additional 25,158 shares during the period. Fulton Bank N.A. increased its holdings in Citigroup by 1.8% in the third quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock worth $892,000 after purchasing an additional 258 shares in the last quarter. Aprio Wealth Management LLC acquired a new position in Citigroup in the third quarter valued at approximately $205,000. Finally, Brookstone Capital Management boosted its holdings in shares of Citigroup by 38.5% during the 3rd quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock worth $512,000 after buying an additional 2,274 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on C. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Citigroup stock opened at $79.48 on Thursday. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s 50 day simple moving average is $74.21 and its 200 day simple moving average is $66.91. The company has a market cap of $150.32 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last issued 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 for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.