Brighton Jones LLC Purchases 12,499 Shares of Citigroup Inc. (NYSE:C)

Brighton Jones LLC raised its position in Citigroup Inc. (NYSE:C) by 166.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,990 shares of the company’s stock after purchasing an additional 12,499 shares during the quarter. Brighton Jones LLC’s holdings in Citigroup were worth $1,407,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Secure Asset Management LLC bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $238,000. Donoghue Forlines LLC bought a new stake in Citigroup during the 4th quarter valued at $1,520,000. Whalen Wealth Management Inc. purchased a new position in shares of Citigroup in the 4th quarter valued at $937,000. Avior Wealth Management LLC raised its position in shares of Citigroup by 16.0% in the 4th quarter. Avior Wealth Management LLC now owns 55,111 shares of the company’s stock worth $3,879,000 after acquiring an additional 7,604 shares in the last quarter. Finally, Mutual Advisors LLC grew its stake in Citigroup by 8.8% in the fourth quarter. Mutual Advisors LLC now owns 17,581 shares of the company’s stock valued at $1,238,000 after purchasing an additional 1,418 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on C. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. 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. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

Shares of Citigroup stock opened at $81.41 on Friday. The business’s fifty day simple moving average is $72.47 and its 200-day simple moving average is $66.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $153.96 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last announced 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. 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 analyst estimates of $19.51 billion. During the same quarter last year, the firm posted $0.84 earnings per share. Citigroup’s revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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.