1834 Investment Advisors Co. Purchases 7,730 Shares of Citigroup Inc. (NYSE:C)

1834 Investment Advisors Co. raised its position in Citigroup Inc. (NYSE:C) by 12.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 69,851 shares of the company’s stock after acquiring an additional 7,730 shares during the period. 1834 Investment Advisors Co.’s holdings in Citigroup were worth $4,917,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares in the last quarter. Lifestyle Asset Management Inc. grew its holdings in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after buying an additional 160 shares during the last quarter. Grove Bank & Trust increased its position in shares of Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after acquiring an additional 170 shares in the last quarter. MWA Asset Management increased its position in shares of Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares in the last quarter. Finally, Bridge Creek Capital Management LLC raised its holdings in shares of Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on C shares. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. The Goldman Sachs Group increased their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America lifted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Evercore ISI increased their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Finally, Piper Sandler restated 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 analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $81.41 on Friday. 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 stock has a fifty day simple moving average of $72.47 and a two-hundred day simple moving average of $66.11. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77. The firm has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its board has approved a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.