First Bancorp Inc ME Buys 761 Shares of Citigroup Inc. (NYSE:C)

First Bancorp Inc ME increased its stake in Citigroup Inc. (NYSE:C) by 10.4% in the fourth quarter, HoldingsChannel reports. The fund owned 8,086 shares of the company’s stock after purchasing an additional 761 shares during the period. First Bancorp Inc ME’s holdings in Citigroup were worth $569,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup during the 2nd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in Citigroup during the 3rd quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its holdings in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Down 0.7 %

NYSE C opened at $81.41 on Friday. 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 stock’s fifty day moving average price is $72.47 and its 200-day moving average price is $66.11. The stock has a market cap of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, equities analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup announced that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on C. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.