Everpar Advisors LLC Grows Holdings in Citigroup Inc. (NYSE:C)

Everpar Advisors LLC raised its stake in Citigroup Inc. (NYSE:C) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,837 shares of the company’s stock after buying an additional 488 shares during the period. Everpar Advisors LLC’s holdings in Citigroup were worth $411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in Citigroup by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock worth $21,538,000 after buying an additional 7,778 shares during the last quarter. Moors & Cabot Inc. grew its position in Citigroup by 17.1% during the second quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock valued at $1,101,000 after acquiring an additional 2,539 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Citigroup by 20.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 231,117 shares of the company’s stock worth $14,667,000 after acquiring an additional 39,725 shares in the last quarter. Argent Trust Co lifted its holdings in shares of Citigroup by 2.5% in the 2nd quarter. Argent Trust Co now owns 57,575 shares of the company’s stock worth $3,654,000 after acquiring an additional 1,394 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Citigroup by 3.8% in the 2nd quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock valued at $9,622,000 after purchasing an additional 5,481 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $78.51 on Friday. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $79.25. The stock has a market cap of $148.47 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.59 and a beta of 1.43. The stock’s 50 day simple moving average is $70.99 and its two-hundred day simple moving average is $65.41. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts expect that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 2.85%. Citigroup’s payout ratio is 64.93%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI boosted their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday. Morgan Stanley boosted their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $83.93.

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.