Mirae Asset Global Investments Co. Ltd. Grows Position in Citigroup Inc. (NYSE:C)

Mirae Asset Global Investments Co. Ltd. increased its stake in Citigroup Inc. (NYSE:C) by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,465 shares of the company’s stock after purchasing an additional 64,905 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Citigroup were worth $19,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in Citigroup during the third quarter valued at $31,000. Webster Bank N. A. grew its position in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Citigroup by 69.3% during 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 in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $79.48 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $74.21 and its 200 day moving average is $66.91. The firm has a market capitalization of $150.32 billion, a PE ratio of 13.36, a PEG ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77.

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

Citigroup Dividend Announcement

The business also recently declared 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. 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 payout ratio is presently 37.65%.

Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on C. Evercore ISI increased their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Wells Fargo & Company upped their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock 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.