Allworth Financial LP Acquires 9,573 Shares of Citigroup Inc. (NYSE:C)

Allworth Financial LP grew its holdings in shares of Citigroup Inc. (NYSE:C) by 28.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,373 shares of the company’s stock after purchasing an additional 9,573 shares during the quarter. Allworth Financial LP’s holdings in Citigroup were worth $3,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. raised its holdings in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Swedbank AB raised its holdings in Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after acquiring an additional 3,947,912 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after acquiring an additional 1,865,628 shares during the period. Nordea Investment Management AB raised its holdings in Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after acquiring an additional 1,731,527 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Citigroup by 103.6% in the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after acquiring an additional 1,410,950 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 3.1 %

Shares of NYSE C opened at $84.62 on Tuesday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.67. The company has a market cap of $160.04 billion, a PE ratio of 14.22, a P/E/G 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 company has a 50-day moving average of $75.95 and a two-hundred day moving average of $67.93.

Citigroup (NYSE:C) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its board has authorized 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on C shares. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group raised their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.