Citigroup Inc. (NYSE:C) Stake Boosted by Core Alternative Capital

Core Alternative Capital increased its stake in Citigroup Inc. (NYSE:C) by 83.4% during the fourth quarter, HoldingsChannel reports. The firm owned 376 shares of the company’s stock after acquiring an additional 171 shares during the period. Core Alternative Capital’s holdings in Citigroup were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of C. Northwest Investment Counselors LLC purchased a new position in Citigroup in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new position in Citigroup during the 3rd quarter valued at about $31,000. Webster Bank N. A. grew its stake in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. GHP Investment Advisors Inc. grew its stake 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 acquiring an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.3 %

Shares of Citigroup stock opened at $80.67 on Tuesday. The stock has a market capitalization of $152.57 billion, a P/E ratio of 13.56, a PEG ratio of 0.65 and a beta of 1.44. 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 stock has a 50 day moving average price of $74.86 and a two-hundred day moving average price of $67.30. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.91.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its board has authorized 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 repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.78%. Citigroup’s payout ratio is currently 37.65%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.