Tcfg Wealth Management LLC Makes New $235,000 Investment in Citigroup Inc. (NYSE:C)

Tcfg Wealth Management LLC bought a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,333 shares of the company’s stock, valued at approximately $235,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC increased its position in Citigroup by 1.8% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 16,686 shares of the company’s stock worth $1,175,000 after buying an additional 300 shares during the period. Secured Retirement Advisors LLC increased its holdings in shares of Citigroup by 13.2% during the fourth quarter. Secured Retirement Advisors LLC now owns 3,759 shares of the company’s stock valued at $265,000 after purchasing an additional 438 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Citigroup during the fourth quarter valued at $2,954,000. Allworth Financial LP increased its holdings in shares of Citigroup by 28.3% during the fourth quarter. Allworth Financial LP now owns 43,373 shares of the company’s stock valued at $3,053,000 after purchasing an additional 9,573 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of Citigroup by 12.5% during the fourth quarter. Principal Securities Inc. now owns 44,681 shares of the company’s stock valued at $3,145,000 after purchasing an additional 4,951 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley raised their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Trading Up 3.1 %

Shares of NYSE C opened at $84.62 on Friday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.67. The firm has a market capitalization of $160.04 billion, a PE ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. 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 business has a 50-day moving average price of $75.69 and a two-hundred day moving average price of $67.76.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company posted $0.84 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given 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 2.65%. Citigroup’s payout ratio is presently 37.65%.

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.