Confluence Wealth Services Inc. Raises Position in Citigroup Inc. (NYSE:C)

Confluence Wealth Services Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 19.6% in the fourth quarter, Holdings Channel reports. The firm owned 5,051 shares of the company’s stock after buying an additional 828 shares during the period. Confluence Wealth Services Inc.’s holdings in Citigroup were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup in the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter worth $31,000. Webster Bank N. A. raised its holdings in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. GHP Investment Advisors Inc. lifted its position 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 purchasing an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Citigroup stock opened at $79.48 on Thursday. The company has a fifty day simple moving average of $74.21 and a 200-day simple moving average of $66.91. 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 firm has a market capitalization of $150.32 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77.

Citigroup (NYSE:C) last issued its earnings results 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 return on equity of 6.62% and a net margin of 7.43%. 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 firm posted $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

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 reacquire up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Upgrades and Downgrades

C has been the subject of several analyst reports. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Wells Fargo & Company boosted 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. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Four 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.