Culbertson A N & Co. Inc. Purchases 5,065 Shares of Citigroup Inc. (NYSE:C)

Culbertson A N & Co. Inc. increased its position in shares of Citigroup Inc. (NYSE:C) by 14.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,014 shares of the company’s stock after acquiring an additional 5,065 shares during the period. Culbertson A N & Co. Inc.’s holdings in Citigroup were worth $2,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of C. Franklin Resources Inc. increased its holdings in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Caxton Associates LP grew its position in Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after buying an additional 1,937,038 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after acquiring an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Citigroup by 9.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after acquiring an additional 1,404,120 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 2.0 %

Shares of C opened at $80.05 on Tuesday. The stock has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The firm has a fifty day simple moving average of $71.22 and a two-hundred day simple moving average of $65.54. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a twelve month low of $50.51 and a twelve month high of $80.45.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the business earned $0.84 EPS. Citigroup’s revenue was up 12.3% compared to the same quarter last year. On average, research analysts anticipate that Citigroup Inc. will post 5.88 EPS for the current year.

Citigroup declared that its board has initiated a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently declared 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 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Bank of America lifted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Morgan Stanley increased 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. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus 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.