Ameliora Wealth Management Ltd. Buys 31,500 Shares of Citigroup Inc. (NYSE:C)

Ameliora Wealth Management Ltd. lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 2,889.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,590 shares of the company’s stock after acquiring an additional 31,500 shares during the quarter. Citigroup accounts for about 0.9% of Ameliora Wealth Management Ltd.’s holdings, making the stock its 28th largest position. Ameliora Wealth Management Ltd.’s holdings in Citigroup were worth $2,294,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of C. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Citigroup by 7.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 245,379 shares of the company’s stock worth $17,272,000 after buying an additional 16,460 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Citigroup by 15.4% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 15,167 shares of the company’s stock worth $1,068,000 after purchasing an additional 2,023 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $2,954,000. Silver Oak Securities Incorporated bought a new stake in shares of Citigroup in the fourth quarter valued at approximately $452,000. Finally, Beacon Financial Advisory LLC lifted its stake in shares of Citigroup by 1.5% during the 4th quarter. Beacon Financial Advisory LLC now owns 21,365 shares of the company’s stock valued at $1,504,000 after buying an additional 320 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 3.8 %

NYSE:C opened at $82.45 on Friday. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77. The stock has a market cap of $155.94 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.64 and a beta of 1.44. The company’s 50 day moving average price is $74.45 and its 200-day moving average price is $67.02. 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 released 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the firm posted $0.84 earnings per share. Citigroup’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a share buyback plan 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 plans are often an indication that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently announced 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. This represents a $2.24 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI boosted their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target 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.