Benedict Financial Advisors Inc. Purchases 7,639 Shares of Citigroup Inc. (NYSE:C)

Benedict Financial Advisors Inc. increased its position in shares of Citigroup Inc. (NYSE:C) by 42.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,752 shares of the company’s stock after purchasing an additional 7,639 shares during the period. Benedict Financial Advisors Inc.’s holdings in Citigroup were worth $1,813,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of C. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup in the third quarter valued at about $31,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the 3rd quarter worth approximately $28,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% during the 3rd 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, Berbice Capital Management LLC purchased a new stake in Citigroup during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Down 0.7 %

C opened at $81.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50 day moving average price is $74.67 and its 200-day moving average price is $67.16. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.91. The stock has a market cap of $154.57 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating 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 firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its board has approved a stock 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 generally an indication that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup 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.