Conning Inc. Raises Stock Position in Citigroup Inc. (NYSE:C)

Conning Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,881 shares of the company’s stock after acquiring an additional 531 shares during the period. Conning Inc.’s holdings in Citigroup were worth $1,047,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. AMF Tjanstepension AB bought a new stake in Citigroup in the 3rd quarter worth about $4,607,000. Brookstone Capital Management increased its holdings in Citigroup by 38.5% during the third quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock valued at $512,000 after buying an additional 2,274 shares during the last quarter. CWM LLC increased its stake in shares of Citigroup by 12.3% in the 3rd quarter. CWM LLC now owns 73,901 shares of the company’s stock worth $4,626,000 after purchasing an additional 8,097 shares in the last quarter. Wedmont Private Capital grew its holdings in Citigroup by 5.0% during the third quarter. Wedmont Private Capital now owns 15,293 shares of the company’s stock valued at $957,000 after purchasing an additional 722 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in Citigroup by 1.9% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 11,454 shares of the company’s stock worth $717,000 after acquiring an additional 210 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Down 0.7 %

NYSE:C opened at $81.73 on Friday. The stock has a fifty day simple moving average of $74.67 and a 200-day simple moving average of $67.14. 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 market cap of $154.57 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.91.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Dividend Announcement

The company 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 $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.74%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on C. Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research 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. Finally, Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.