Apexium Financial LP Purchases 278 Shares of Citigroup Inc. (NYSE:C)

Apexium Financial LP lifted its position in shares of Citigroup Inc. (NYSE:C) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,561 shares of the company’s stock after purchasing an additional 278 shares during the period. Apexium Financial LP’s holdings in Citigroup were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in C. Franklin Resources Inc. increased its holdings in 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 buying an additional 4,680,713 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in 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 acquiring an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares during the period. SG Americas Securities LLC increased its stake in shares of Citigroup by 103.6% during the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after purchasing an additional 1,410,950 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $81.07 on Tuesday. The stock has a market cap of $153.33 billion, a P/E ratio of 13.63, a PEG ratio of 0.65 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s 50-day moving average price is $72.71 and its two-hundred day moving average price is $66.21. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The business 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%. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.76%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its board has initiated a share repurchase program 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 programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Morgan Stanley boosted their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Evercore ISI lifted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target 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.