Successful Portfolios LLC Purchases New Position in Citigroup Inc. (NYSE:C)

Successful Portfolios LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,966 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. Northwest Investment Counselors LLC bought a new stake in Citigroup during the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the 2nd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the 3rd quarter valued at about $31,000. GHP Investment Advisors Inc. lifted its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 2.0 %

Shares of NYSE C opened at $80.05 on Monday. The firm has a fifty day simple moving average of $71.22 and a two-hundred day simple moving average of $65.53. The firm has a market capitalization of $151.40 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12 month low of $50.51 and a 12 month high of $80.45.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 EPS. Equities analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup announced that its board has authorized 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 purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given 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 2.80%. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.