MFG Wealth Management Inc. Invests $3.33 Million in Citigroup Inc. (NYSE:C)

MFG Wealth Management Inc. purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 47,332 shares of the company’s stock, valued at approximately $3,332,000. Citigroup comprises about 3.1% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors have also added to or reduced their stakes in C. MassMutual Private Wealth & Trust FSB lifted its position in shares of Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares during the last quarter. Avitas Wealth Management LLC raised its stake in Citigroup by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after acquiring an additional 143 shares during the period. Robertson Stephens Wealth Management LLC lifted its holdings in Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after purchasing an additional 150 shares during the last quarter. Lifestyle Asset Management Inc. boosted its position in Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares during the period. Finally, Core Alternative Capital increased its stake in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 0.2 %

C stock opened at $81.24 on Thursday. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.91. The stock has a market cap of $153.65 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. 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 is $75.25 and its 200 day moving average is $67.51.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Dividend Announcement

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 paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.