Magnus Financial Group LLC Has $454,000 Position in Citigroup Inc. (NYSE:C)

Magnus Financial Group LLC raised its holdings in Citigroup Inc. (NYSE:C) by 37.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,443 shares of the company’s stock after acquiring an additional 1,747 shares during the quarter. Magnus Financial Group LLC’s holdings in Citigroup were worth $454,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Citigroup in the 3rd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the second quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup in the third quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its stake in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares during the period. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

NYSE C opened at $81.68 on Thursday. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.28. 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 cap of $154.49 billion, a P/E ratio of 13.73, a PEG ratio of 0.64 and a beta of 1.43. The company’s 50-day simple moving average is $71.94 and its 200 day simple moving average is $65.88.

Citigroup (NYSE:C) last released its quarterly earnings data 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. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. As a group, research analysts forecast that Citigroup Inc. will post 7.49 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup announced that its board has authorized a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

About Citigroup

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.