HB Wealth Management LLC Grows Stock Position in Citigroup Inc. (NYSE:C)

HB Wealth Management LLC lifted its stake in shares of Citigroup Inc. (NYSE:C) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,731 shares of the company’s stock after purchasing an additional 5,802 shares during the quarter. HB Wealth Management LLC’s holdings in Citigroup were worth $3,430,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of C. Franklin Resources Inc. raised its stake in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Caxton Associates LP raised its stake in shares of Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after purchasing an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Citigroup by 70.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Citigroup by 9.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after acquiring an additional 1,404,120 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 2.0 %

C opened at $80.05 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The business has a 50-day moving average of $71.22 and a two-hundred day moving average of $65.53. Citigroup Inc. has a 12 month low of $50.51 and a 12 month high of $80.45.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current year.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 64.93%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on C shares. Morgan Stanley raised their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company 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.