Tcfg Wealth Management LLC Invests $235,000 in Citigroup Inc. (NYSE:C)

Tcfg Wealth Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, Holdings Channel.com reports. The firm purchased 3,333 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brookstone Capital Management raised its stake in shares of Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. raised its stake in shares of 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 acquiring an additional 20,000 shares in the last quarter. HighTower Advisors LLC raised 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 valued at $22,236,000 after acquiring an additional 8,301 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after acquiring an additional 20,291 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE:C opened at $84.62 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.67. The firm has a market capitalization of $160.04 billion, a PE ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. The business’s 50 day moving average is $75.69 and its 200-day moving average is $67.76. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 EPS. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

Citigroup announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup 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.