Avanza Fonder AB Takes Position in Citigroup Inc. (NYSE:C)

Avanza Fonder AB bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, HoldingsChannel reports. The fund bought 132,720 shares of the company’s stock, valued at approximately $9,342,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. American Century Companies Inc. raised its stake in Citigroup by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock valued at $21,538,000 after acquiring an additional 7,778 shares during the period. Moors & Cabot Inc. raised its position in shares of Citigroup by 17.1% in the second quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock valued at $1,101,000 after purchasing an additional 2,539 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Citigroup by 20.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 231,117 shares of the company’s stock valued at $14,667,000 after buying an additional 39,725 shares during the last quarter. Argent Trust Co boosted its stake in Citigroup by 2.5% in the 2nd quarter. Argent Trust Co now owns 57,575 shares of the company’s stock valued at $3,654,000 after purchasing an additional 1,394 shares during the period. Finally, Blair William & Co. IL increased its stake in Citigroup by 3.8% in the second quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock valued at $9,622,000 after acquiring an additional 5,481 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

C has been the subject of a number of research analyst reports. Bank of America boosted their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company increased their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Up 0.1 %

Citigroup stock opened at $78.57 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $148.60 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $79.25. The firm’s 50-day simple moving average is $70.99 and its 200 day simple moving average is $65.41.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Research analysts predict that Citigroup Inc. will post 5.88 EPS for the current fiscal 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 issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.85%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Citigroup announced that its board has initiated a share buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is 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.