Newbridge Financial Services Group Inc. Buys New Position in Citigroup Inc. (NYSE:C)

Newbridge Financial Services Group Inc. purchased a new position in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,702 shares of the company’s stock, valued at approximately $120,000.

A number of other large investors have also modified their holdings of C. Geode Capital Management LLC boosted its holdings in shares of Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares during the last quarter. Franklin Resources Inc. lifted its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Fisher Asset Management LLC boosted its holdings in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Citigroup by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock valued at $670,021,000 after buying an additional 240,628 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $80.67 on Tuesday. The firm has a market cap of $152.57 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The stock has a 50 day moving average of $74.86 and a two-hundred day moving average of $67.30. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted 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 firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a share buyback 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 often an indication that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

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

Analyst Ratings Changes

Several analysts recently commented on C shares. Oppenheimer dropped their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley raised their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI boosted their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” 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 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.