Donoghue Forlines LLC Buys Shares of 21,597 Citigroup Inc. (NYSE:C)

Donoghue Forlines LLC purchased a new position in Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,597 shares of the company’s stock, valued at approximately $1,520,000.

A number of other institutional investors have also added to or reduced their stakes in C. Northwest Investment Counselors LLC bought a new stake in Citigroup in the third quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup in the 2nd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at about $31,000. GHP Investment Advisors Inc. boosted its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the period. 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 worth $39,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.1 %

Citigroup stock opened at $82.57 on Thursday. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.28. The company has a market cap of $156.16 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.65 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $71.94 and a two-hundred day simple moving average of $65.88.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 net margin of 7.43% and a return on equity of 6.62%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Analysts predict that Citigroup Inc. will post 7.51 EPS 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 2.71%. 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.

Analyst Ratings Changes

Several analysts recently issued reports on C shares. Wells Fargo & Company raised their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted 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. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Four equities research 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, Citigroup has an average 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.