Citigroup Inc. (NYSE:C) Position Lifted by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,669 shares of the company’s stock after acquiring an additional 58,204 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Citigroup were worth $22,502,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in C. Parsons Capital Management Inc. RI raised its holdings in shares of Citigroup by 191.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 22,962 shares of the company’s stock worth $1,616,000 after purchasing an additional 15,095 shares during the period. Parkside Investments LLC raised its holdings in shares of Citigroup by 1.7% during the fourth quarter. Parkside Investments LLC now owns 127,189 shares of the company’s stock worth $8,953,000 after purchasing an additional 2,130 shares during the period. Webster Bank N. A. raised its holdings in shares of 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. Pacer Advisors Inc. raised its holdings in shares of Citigroup by 88.0% during the fourth quarter. Pacer Advisors Inc. now owns 266,537 shares of the company’s stock worth $18,762,000 after purchasing an additional 124,772 shares during the period. Finally, Cornerstone Wealth Group LLC raised its holdings in shares of Citigroup by 2.9% during the fourth quarter. Cornerstone Wealth Group LLC now owns 57,526 shares of the company’s stock worth $4,049,000 after purchasing an additional 1,624 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on C shares. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Down 0.7 %

Citigroup stock opened at $80.95 on Monday. The stock has a market cap of $153.09 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.65 and a beta of 1.43. 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 company’s 50-day moving average price is $72.47 and its two-hundred day moving average price is $66.10. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.77%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup 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.