Berbice Capital Management LLC Invests $42,000 in Citigroup Inc. (NYSE:C)

Berbice Capital Management LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 600 shares of the company’s stock, valued at approximately $42,000.

Other large investors have also made changes to their positions in the company. Elgethun Capital Management increased its position in shares of Citigroup by 8.3% during the second quarter. Elgethun Capital Management now owns 73,467 shares of the company’s stock worth $4,662,000 after purchasing an additional 5,600 shares in the last quarter. MBB Public Markets I LLC grew its holdings in Citigroup by 2,860.0% in the 2nd quarter. MBB Public Markets I LLC now owns 133,228 shares of the company’s stock valued at $8,455,000 after buying an additional 128,727 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Citigroup by 3.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,519,721 shares of the company’s stock valued at $96,441,000 after buying an additional 55,889 shares in the last quarter. Legal & General Group Plc grew its holdings in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after buying an additional 913,231 shares in the last quarter. Finally, Smith Thornton Advisors LLC purchased a new stake in Citigroup in the 2nd quarter valued at $306,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

C opened at $81.96 on Friday. The stock’s 50-day moving average price is $72.21 and its 200 day moving average price is $66.00. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. 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 firm has a market cap of $155.00 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.65 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. 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 company earned $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side 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. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

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

Analyst Upgrades and Downgrades

C has been the subject of several analyst reports. Wells Fargo & Company upped 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. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer dropped their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Piper Sandler reaffirmed 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. Finally, Evercore ISI upped their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note 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. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price 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.