Berbice Capital Management LLC Acquires Shares of 600 Citigroup Inc. (NYSE:C)

Berbice Capital Management LLC bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 600 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of C. Franklin Resources Inc. lifted its position in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after buying an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB lifted its position in Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after buying an additional 1,731,527 shares during the last quarter. SG Americas Securities LLC lifted its position in Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after buying an additional 1,410,950 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Citigroup by 9.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on C. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

C opened at $81.96 on Friday. The business’s 50-day moving average is $72.21 and its two-hundred day moving average is $66.00. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $155.00 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last issued its quarterly 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 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 analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

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.