MFA Wealth Services Takes $459,000 Position in Citigroup Inc. (NYSE:C)

MFA Wealth Services bought a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 6,525 shares of the company’s stock, valued at approximately $459,000.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Northwest Investment Counselors LLC purchased a new position in Citigroup during the 3rd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup in the second quarter worth $31,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the third quarter valued at $31,000. GHP Investment Advisors Inc. lifted its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $81.98 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 company has a market capitalization of $155.04 billion, a PE ratio of 13.78, a P/E/G ratio of 0.65 and a beta of 1.43. The company has a 50 day moving average price of $72.21 and a 200-day moving average price of $66.00. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. As a group, equities analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

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 2.73%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on C shares. Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.