MWA Asset Management Raises Stake in Citigroup Inc. (NYSE:C)

MWA Asset Management boosted its holdings in Citigroup Inc. (NYSE:C) by 12.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,183 shares of the company’s stock after buying an additional 1,598 shares during the period. MWA Asset Management’s holdings in Citigroup were worth $998,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after buying an additional 791,758 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Fisher Asset Management LLC grew its position in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after acquiring an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after purchasing an additional 240,628 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.7 %

Citigroup stock opened at $81.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.91. The firm’s 50-day moving average is $74.67 and its 200-day moving average is $67.14. The company has a market cap of $154.57 billion, a P/E ratio of 13.74, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm 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%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. On average, equities analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. Citigroup’s payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on C. 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. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Morgan Stanley increased their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

About Citigroup

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.