Rheos Capital Works Inc. Increases Stock Position in Citigroup Inc. (NYSE:C)

Rheos Capital Works Inc. increased its position in Citigroup Inc. (NYSE:C) by 21.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 663,500 shares of the company’s stock after buying an additional 115,000 shares during the period. Citigroup comprises approximately 2.6% of Rheos Capital Works Inc.’s holdings, making the stock its 7th largest position. Rheos Capital Works Inc.’s holdings in Citigroup were worth $46,704,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of C. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $31,000. Webster Bank N. A. raised its holdings in shares of Citigroup by 150.0% during the 4th 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. GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI lifted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. 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. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Bank of America upped their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

C opened at $81.43 on Monday. The firm’s 50-day moving average price is $73.67 and its 200-day moving average price is $66.63. The company has a market cap of $154.01 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.84 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. Citigroup’s payout ratio is currently 37.65%.

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

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.