Focus Financial Network Inc. Boosts Holdings in Citigroup Inc. (NYSE:C)

Focus Financial Network Inc. raised its stake in shares of Citigroup Inc. (NYSE:C) by 74.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,621 shares of the company’s stock after buying an additional 4,539 shares during the period. Focus Financial Network Inc.’s holdings in Citigroup were worth $748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of C. AMF Tjanstepension AB purchased a new stake in Citigroup during the third quarter worth $4,607,000. Creative Planning boosted its stake in shares of Citigroup by 0.6% during the 3rd quarter. Creative Planning now owns 381,362 shares of the company’s stock worth $23,873,000 after acquiring an additional 2,372 shares in the last quarter. Swedbank AB grew its position in shares of Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after acquiring an additional 54,782 shares during the period. CFM Wealth Partners LLC increased its stake in shares of Citigroup by 19.5% in the 3rd quarter. CFM Wealth Partners LLC now owns 4,899 shares of the company’s stock valued at $310,000 after purchasing an additional 800 shares in the last quarter. Finally, Opal Wealth Advisors LLC raised its holdings in Citigroup by 38.9% in the 3rd quarter. Opal Wealth Advisors LLC now owns 6,175 shares of the company’s stock worth $387,000 after purchasing an additional 1,730 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on C shares. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

NYSE:C opened at $81.24 on Thursday. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.91. The stock has a market cap of $153.65 billion, a PE ratio of 13.65, a P/E/G ratio of 0.65 and a beta of 1.44. 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 has a 50 day moving average price of $75.25 and a 200 day moving average price of $67.51.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has approved a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.76%. Citigroup’s payout ratio is 37.65%.

About Citigroup

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.