Team Hewins LLC Takes $539,000 Position in Citigroup Inc. (NYSE:C)

Team Hewins LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,473 shares of the company’s stock, valued at approximately $539,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Wealth Management raised its holdings in Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after buying an additional 192 shares during the period. Founders Capital Management boosted its holdings in shares of Citigroup by 12.5% during the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock valued at $93,000 after acquiring an additional 200 shares during the period. Cowa LLC raised its stake in shares of Citigroup by 3.1% during the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after purchasing an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Citigroup by 0.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after purchasing an additional 200 shares in the last quarter. Finally, Rossmore Private Capital raised its position in Citigroup by 1.5% in the fourth quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock worth $710,000 after acquiring an additional 200 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

C has been the subject of a number of research analyst reports. HSBC upped their price target on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. Evercore ISI raised their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Piper Sandler lifted their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group lifted their price target on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $62.85.

Citigroup Stock Performance

Shares of NYSE C traded up $0.49 during midday trading on Friday, hitting $63.51. The company’s stock had a trading volume of 6,513,704 shares, compared to its average volume of 15,711,959. The firm’s fifty day moving average price is $61.64 and its 200-day moving average price is $54.92. The firm has a market cap of $121.14 billion, a P/E ratio of 18.78, a P/E/G ratio of 0.95 and a beta of 1.49. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $64.98. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. On average, sell-side analysts forecast that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

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.