Citigroup Inc. (NYSE:C) Shares Purchased by Focus Financial Network Inc.

Focus Financial Network Inc. raised its stake in Citigroup Inc. (NYSE:C) by 74.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,621 shares of the company’s stock after purchasing an additional 4,539 shares during the quarter. Focus Financial Network Inc.’s holdings in Citigroup were worth $748,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of C. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter valued at $31,000. Northwest Investment Counselors LLC acquired a new position in Citigroup in the 3rd quarter valued at about $28,000. Webster Bank N. A. increased its stake in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. GHP Investment Advisors Inc. increased its stake 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 purchasing an additional 368 shares during the period. Finally, Berbice Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $81.24 on Thursday. The firm has a market capitalization of $153.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.65 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.91. The firm’s 50 day moving average is $75.25 and its two-hundred day moving average is $67.51.

Citigroup (NYSE:C) last announced its quarterly 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 net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the business earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on C shares. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Evercore ISI upped their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.