Cibc World Market Inc. Acquires 220,511 Shares of Citigroup Inc. (NYSE:C)

Cibc World Market Inc. lifted its position in Citigroup Inc. (NYSE:C) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,365,633 shares of the company’s stock after purchasing an additional 220,511 shares during the quarter. Cibc World Market Inc. owned about 0.07% of Citigroup worth $96,127,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in C. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup in the second quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new position in Citigroup in the third quarter worth about $31,000. Webster Bank N. A. grew its position in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI boosted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler restated 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. Finally, Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the company 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Performance

NYSE:C opened at $81.88 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 stock has a market capitalization of $154.86 billion, a P/E ratio of 13.76, a PEG ratio of 0.65 and a beta of 1.43. The company has a 50 day moving average price of $73.44 and a 200 day moving average price of $66.53. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.