Park Avenue Securities LLC Raises Position in Citigroup Inc. (NYSE:C)

Park Avenue Securities LLC lifted its position in Citigroup Inc. (NYSE:C) by 12.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,883 shares of the company’s stock after acquiring an additional 7,514 shares during the period. Park Avenue Securities LLC’s holdings in Citigroup were worth $4,637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in C. Franklin Resources Inc. raised its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Caxton Associates LP grew its stake in shares of Citigroup by 96.1% in the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after acquiring an additional 1,937,038 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after acquiring an additional 1,865,628 shares during the period. Nordea Investment Management AB raised its holdings in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on C. Bank of America boosted their target price 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. The Goldman Sachs Group upped their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. 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. Finally, Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 0.3 %

Shares of Citigroup stock opened at $78.51 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 company has a fifty day moving average of $70.78 and a 200 day moving average of $65.32. The company has a market capitalization of $148.47 billion, a P/E ratio of 22.76, a P/E/G ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $79.25.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the business posted $0.84 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock 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 reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The business 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 $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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.