Stonegate Investment Group LLC Acquires 405 Shares of Citigroup Inc. (NYSE:C)

Stonegate Investment Group LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 3.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,122 shares of the company’s stock after purchasing an additional 405 shares during the quarter. Stonegate Investment Group LLC’s holdings in Citigroup were worth $853,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Franklin Resources Inc. boosted its stake in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares during the period. Nordea Investment Management AB boosted its position in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Citigroup by 103.6% in the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after buying an additional 1,410,950 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Citigroup by 9.8% in 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 buying an additional 1,404,120 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 1.4 %

Citigroup stock opened at $79.97 on Wednesday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The firm has a market capitalization of $151.24 billion, a PE ratio of 13.44, a P/E/G ratio of 0.65 and a beta of 1.43. The company’s 50-day moving average is $72.93 and its 200-day moving average is $66.32. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm 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 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

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.