Davis Investment Partners LLC Buys New Stake in Citigroup Inc. (NYSE:C)

Davis Investment Partners LLC purchased a new stake in Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,827 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after buying an additional 791,758 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Citigroup by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares during the period. Legal & General Group Plc grew its holdings in Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its position in Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 2.2 %

Shares of C stock traded up $1.54 during trading hours on Monday, reaching $72.94. 16,534,150 shares of the company’s stock were exchanged, compared to its average volume of 14,594,581. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $74.29. The stock’s 50 day moving average is $70.19 and its 200-day moving average is $65.07. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market cap of $137.95 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.07%. Citigroup’s payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

C has been the subject of a number of recent analyst reports. Evercore ISI boosted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Morgan Stanley cut their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Bank of America boosted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.13.

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.