Romano Brothers AND Company Boosts Holdings in Citigroup Inc. (NYSE:C)

Romano Brothers AND Company increased its position in shares of Citigroup Inc. (NYSE:C) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,458 shares of the company’s stock after buying an additional 2,805 shares during the quarter. Romano Brothers AND Company’s holdings in Citigroup were worth $3,974,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lifestyle Asset Management Inc. boosted its stake in Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after buying an additional 160 shares during the period. Grove Bank & Trust lifted its holdings in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after acquiring an additional 170 shares during the last quarter. MWA Asset Management boosted its position in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after purchasing an additional 173 shares during the period. Bridge Creek Capital Management LLC boosted its position in shares of Citigroup by 0.3% during the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after buying an additional 175 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Citigroup by 9.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock valued at $128,000 after acquiring an additional 175 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on C shares. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group raised their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI boosted their target price 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 raised their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 2.0 %

NYSE:C opened at $80.05 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 52-week low of $50.51 and a 52-week high of $80.45. The stock’s 50 day moving average price is $71.22 and its 200 day moving average price is $65.53. The company has a market capitalization of $151.40 billion, a PE ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts anticipate that Citigroup Inc. will post 5.88 EPS for the current year.

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 $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.80%. Citigroup’s payout ratio is 64.93%.

Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is 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.