Wilmington Savings Fund Society FSB Buys 5,679 Shares of Citigroup Inc. (NYSE:C)

Wilmington Savings Fund Society FSB lifted its stake in Citigroup Inc. (NYSE:C) by 14.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,870 shares of the company’s stock after buying an additional 5,679 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Citigroup were worth $3,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup in the third quarter worth about $31,000. Webster Bank N. A. lifted its position in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased 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 acquiring an additional 260 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on C shares. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Evercore ISI increased their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

C opened at $81.73 on Friday. The business has a fifty day moving average of $74.67 and a 200 day moving average of $67.16. The stock has a market cap of $154.57 billion, a P/E ratio of 13.74, a PEG ratio of 0.65 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.91.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The firm 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 business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Dividend Announcement

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

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.