Evolution Wealth Advisors LLC Makes New $216,000 Investment in Citigroup Inc. (NYSE:C)

Evolution Wealth Advisors LLC bought a new stake in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,070 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Franklin Resources Inc. lifted its stake in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Caxton Associates LP boosted its stake in shares of Citigroup by 96.1% in the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after acquiring an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Citigroup by 70.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on C. Morgan Stanley increased their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Bank of America boosted 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. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 0.0 %

Citigroup stock opened at $81.68 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $71.94 and a two-hundred day moving average of $65.88. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.28. The stock has a market capitalization of $154.49 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Citigroup Inc. will post 7.49 earnings per share for the current year.

Citigroup Announces Dividend

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

Citigroup announced that its Board of Directors has initiated 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 repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.