Herbst Group LLC Boosts Stock Position in Citigroup Inc. (NYSE:C)

Herbst Group LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,511 shares of the company’s stock after buying an additional 3,655 shares during the quarter. Herbst Group LLC’s holdings in Citigroup were worth $1,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blair William & Co. IL grew its position in Citigroup by 3.8% during the 2nd quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock worth $9,622,000 after purchasing an additional 5,481 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Citigroup by 2.9% during the second quarter. Intech Investment Management LLC now owns 104,407 shares of the company’s stock worth $6,626,000 after purchasing an additional 2,896 shares during the period. Ieq Capital LLC raised its position in Citigroup by 20.9% during the 2nd quarter. Ieq Capital LLC now owns 59,332 shares of the company’s stock worth $3,765,000 after buying an additional 10,239 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Citigroup by 15.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,738,454 shares of the company’s stock valued at $173,782,000 after acquiring an additional 365,140 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of Citigroup by 46.0% in the second quarter. King Luther Capital Management Corp now owns 110,442 shares of the company’s stock worth $7,009,000 after acquiring an additional 34,809 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 2.0 %

Shares of C opened at $80.05 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $151.40 billion, a PE ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43. The company’s 50-day simple moving average is $71.22 and its 200-day simple moving average is $65.52. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $80.45.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the business posted $0.84 earnings per share. Citigroup’s revenue was up 12.3% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Evercore ISI lifted 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. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.