Wilmington Savings Fund Society FSB Increases Position in Citigroup Inc. (NYSE:C)

Wilmington Savings Fund Society FSB grew its holdings in shares of Citigroup Inc. (NYSE:C) by 14.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,870 shares of the company’s stock after purchasing an additional 5,679 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Citigroup were worth $3,088,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in C. AMF Tjanstepension AB purchased a new stake in shares of Citigroup in the third quarter worth $4,607,000. Brookstone Capital Management grew its position in Citigroup by 38.5% during the 3rd quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock valued at $512,000 after purchasing an additional 2,274 shares during the last quarter. CWM LLC increased its stake in Citigroup by 12.3% during the 3rd quarter. CWM LLC now owns 73,901 shares of the company’s stock valued at $4,626,000 after purchasing an additional 8,097 shares in the last quarter. Sanibel Captiva Trust Company Inc. raised its holdings in Citigroup by 1.9% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 11,454 shares of the company’s stock worth $717,000 after buying an additional 210 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Citigroup in the third quarter worth approximately $479,000. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on C shares. Oppenheimer reduced their price target 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. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Barclays raised 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 report on Monday, January 6th. Evercore ISI lifted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Down 0.7 %

Shares of C stock opened at $81.73 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $154.57 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.91. The firm has a fifty day moving average price of $74.67 and a 200-day moving average price of $67.16.

Citigroup (NYSE:C) last released its quarterly 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.