Stoneridge Investment Partners LLC Grows Stake in Citigroup Inc. (NYSE:C)

Stoneridge Investment Partners LLC boosted its position in Citigroup Inc. (NYSE:C) by 729.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,040 shares of the company’s stock after purchasing an additional 97,659 shares during the quarter. Citigroup makes up 2.8% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 6th biggest position. Stoneridge Investment Partners LLC’s holdings in Citigroup were worth $7,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in C. Northwest Investment Counselors LLC purchased a new position in Citigroup during the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the third quarter valued at $31,000. Webster Bank N. A. raised its position in shares of Citigroup by 150.0% in the 4th 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 last quarter. GHP Investment Advisors Inc. boosted its stake in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.7 %

Shares of Citigroup stock opened at $81.73 on Friday. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.91. The company’s fifty day simple moving average is $74.67 and its 200-day simple moving average is $67.16. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $154.57 billion, a PE ratio of 13.74, a P/E/G ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

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 issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Evercore ISI boosted their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.