Sierra Ocean LLC Acquires Shares of 530 Citigroup Inc. (NYSE:C)

Sierra Ocean LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, Holdings Channel.com reports. The fund acquired 530 shares of the company’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Alternative Capital boosted its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake 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 during the 3rd quarter valued at about $31,000. Webster Bank N. A. raised its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of 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. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on C shares. Truist Financial started coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Shares of C stock opened at $84.62 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $160.04 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.65 and a beta of 1.44. The company’s 50-day simple moving average is $75.95 and its two-hundred day simple moving average is $67.93. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.67.

Citigroup (NYSE:C) last released its quarterly earnings data 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm 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 dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. Citigroup’s dividend payout ratio is presently 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 shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.