Chesley Taft & Associates LLC Has $4.92 Million Stock Position in Citigroup Inc. (NYSE:C)

Chesley Taft & Associates LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 40.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,939 shares of the company’s stock after acquiring an additional 20,158 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Citigroup were worth $4,923,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Alpha Cubed Investments LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $206,000. Royal Fund Management LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $1,292,000. Ballentine Partners LLC lifted its stake in shares of Citigroup by 3.4% in the 4th quarter. Ballentine Partners LLC now owns 23,232 shares of the company’s stock valued at $1,635,000 after purchasing an additional 772 shares during the period. Culbertson A N & Co. Inc. boosted its position in shares of Citigroup by 14.9% in the 4th quarter. Culbertson A N & Co. Inc. now owns 39,014 shares of the company’s stock worth $2,746,000 after purchasing an additional 5,065 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 2.0 %

Shares of NYSE:C opened at $80.05 on Tuesday. The stock has a market capitalization of $151.40 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company’s 50-day moving average price is $71.43 and its two-hundred day moving average price is $65.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a one year low of $50.51 and a one year high of $80.45.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 7.49 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

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 issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. Citigroup’s payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 target price (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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.