OFC Financial Planning LLC Makes New Investment in Citigroup Inc. (NYSE:C)

OFC Financial Planning LLC bought a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,136 shares of the company’s stock, valued at approximately $573,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Brookstone Capital Management boosted its position in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. grew its holdings in Citigroup by 34.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after buying an additional 20,000 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after acquiring an additional 8,301 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the period. Finally, KBC Group NV increased its holdings in shares of Citigroup by 1.8% during the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after buying an additional 20,291 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.5 %

Shares of NYSE:C opened at $81.43 on Friday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $154.01 billion, a PE ratio of 13.69, a P/E/G ratio of 0.64 and a beta of 1.43. The company’s 50-day moving average price is $73.67 and its 200 day moving average price is $66.64.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Announces Dividend

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

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased 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. Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Wells Fargo & Company boosted their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price 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.