Janney Capital Management LLC Boosts Stock Position in Citigroup Inc. (NYSE:C)

Janney Capital Management LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 134.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,219 shares of the company’s stock after purchasing an additional 166,168 shares during the quarter. Citigroup accounts for approximately 1.4% of Janney Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Janney Capital Management LLC’s holdings in Citigroup were worth $20,429,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of C. Brookstone Capital Management boosted its position in Citigroup by 340.6% in the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. boosted its holdings in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after buying an additional 20,000 shares in the last quarter. HighTower Advisors LLC grew its position in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after buying an additional 8,301 shares during the period. FNY Investment Advisers LLC increased its holdings in Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after buying an additional 12,280 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after acquiring an additional 20,291 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Citigroup stock opened at $81.46 on Wednesday. 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 has a 50-day moving average price of $71.68 and a 200 day moving average price of $65.77. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $81.85. The stock has a market cap of $154.07 billion, a P/E ratio of 13.68, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 7.49 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.