Waycross Partners LLC Has $14.49 Million Stake in Citigroup Inc. (NYSE:C)

Waycross Partners LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,816 shares of the company’s stock after acquiring an additional 7,421 shares during the period. Citigroup makes up 1.9% of Waycross Partners LLC’s portfolio, making the stock its 23rd biggest holding. Waycross Partners LLC’s holdings in Citigroup were worth $14,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Alternative Capital raised its stake in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Finally, GHP Investment Advisors Inc. grew its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Oppenheimer lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 3.1 %

Shares of C opened at $84.62 on Tuesday. The company has a market capitalization of $160.04 billion, a P/E ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.67. The business’s 50 day simple moving average is $75.95 and its 200-day simple moving average is $67.93. 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 earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping 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 company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup declared that its board has initiated a stock 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 buy up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board 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.