Citigroup Inc. (NYSE:C) Shares Bought by KBC Group NV

KBC Group NV lifted its position in shares of Citigroup Inc. (NYSE:C) by 27.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,453,824 shares of the company’s stock after buying an additional 315,313 shares during the period. KBC Group NV owned approximately 0.08% of Citigroup worth $102,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in C. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup in the second quarter valued at $31,000. GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.7 %

C stock opened at $81.41 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a 50 day simple moving average of $72.47 and a 200-day simple moving average of $66.10. The company has a market capitalization of $153.96 billion, a P/E ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

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 $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Analyst Ratings Changes

Several brokerages have weighed in on C. 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. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Morgan Stanley boosted their price target 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. Finally, Piper Sandler reiterated 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.