GFS Advisors LLC Takes Position in Citigroup Inc. (NYSE:C)

GFS Advisors LLC bought a new position in Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,940 shares of the company’s stock, valued at approximately $2,248,000.

Several other institutional investors have also added to or reduced their stakes in the company. Dana Investment Advisors Inc. increased its holdings in shares of Citigroup by 1.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock worth $1,331,000 after buying an additional 312 shares during the last quarter. Clearbridge Investments LLC grew its position in Citigroup by 99.2% in the second quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock worth $2,893,000 after acquiring an additional 22,706 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter valued at approximately $31,000. Sanctuary Advisors LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at approximately $8,471,000. Finally, Trust Co. of Toledo NA OH boosted its holdings in shares of Citigroup by 11.8% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 16,504 shares of the company’s stock worth $1,033,000 after purchasing an additional 1,746 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $81.43 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day moving average price of $73.67 and a 200-day moving average price of $66.64. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The stock has a market capitalization of $154.01 billion, a PE ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced 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. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Equities analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently declared 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. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on C shares. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Evercore ISI raised 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. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.