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

Apollon Wealth Management LLC lifted its stake in Citigroup Inc. (NYSE:C) by 11.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,927 shares of the company’s stock after buying an additional 5,534 shares during the quarter. Apollon Wealth Management LLC’s holdings in Citigroup were worth $3,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Citigroup by 2.0% in the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. increased its position in Citigroup by 18.5% in 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. Fisher Asset Management LLC increased its position in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased 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 purchasing an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock valued at $670,021,000 after acquiring an additional 240,628 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.7 %

C stock opened at $81.73 on Friday. 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 stock has a market capitalization of $154.57 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The firm has a 50 day moving average of $74.67 and a 200 day moving average of $67.16. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.91.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared 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 is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. Citigroup’s dividend payout ratio is currently 37.65%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Oppenheimer cut their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Bank of America upped their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

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.