Entropy Technologies LP Buys New Shares in Citigroup Inc. (NYSE:C)

Entropy Technologies LP bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,541 shares of the company’s stock, valued at approximately $2,572,000.

A number of other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its position in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares in the last quarter. Avitas Wealth Management LLC grew its position in Citigroup by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after purchasing an additional 143 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its position in Citigroup by 0.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after purchasing an additional 150 shares in the last quarter. Lifestyle Asset Management Inc. grew its position in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the period. Finally, Grove Bank & Trust grew its position in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after acquiring an additional 170 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Oppenheimer decreased their price objective 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. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Four 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 company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of Citigroup stock opened at $81.73 on Friday. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $74.67 and a two-hundred day simple moving average of $67.16. The stock has a market capitalization of $154.57 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings data 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 net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

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 paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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

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.