New Century Financial Group LLC Has $2.25 Million Stock Position in Citigroup Inc. (NYSE:C)

New Century Financial Group LLC lessened its position in Citigroup Inc. (NYSE:C) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 31,713 shares of the company’s stock after selling 291 shares during the period. Citigroup makes up about 1.0% of New Century Financial Group LLC’s holdings, making the stock its 15th largest position. New Century Financial Group LLC’s holdings in Citigroup were worth $2,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB boosted its position 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 valued at $501,994,000 after buying an additional 1,731,527 shares during the last quarter. SG Americas Securities LLC grew its holdings in Citigroup by 103.6% during the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after buying an additional 1,410,950 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after buying an additional 1,404,120 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on C shares. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 0.4 %

Shares of C opened at $81.98 on Friday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The business has a 50-day moving average of $72.21 and a 200 day moving average of $66.00. The firm has a market cap of $155.04 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup declared that its board has authorized a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.73%. Citigroup’s dividend payout ratio is currently 37.65%.

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.