Donoghue Forlines LLC Takes Position in Citigroup Inc. (NYSE:C)

Donoghue Forlines LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, HoldingsChannel reports. The firm bought 21,597 shares of the company’s stock, valued at approximately $1,520,000.

Several other institutional investors also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the second quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup in the third quarter worth about $31,000. GHP Investment Advisors Inc. boosted its stake in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 1.1 %

NYSE:C opened at $82.57 on Thursday. The company has a market cap of $156.16 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.28. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a fifty day simple moving average of $71.94 and a 200-day simple moving average of $65.88.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.71%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Company 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.