Whalen Wealth Management Inc. Invests $937,000 in Citigroup Inc. (NYSE:C)

Whalen Wealth Management Inc. purchased a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 13,312 shares of the company’s stock, valued at approximately $937,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new position in shares of Citigroup in the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup during the second quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the 3rd quarter worth about $31,000. GHP Investment Advisors Inc. increased its stake in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 0.0 %

Citigroup stock opened at $81.68 on Thursday. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.28. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $154.49 billion, a PE ratio of 13.73, a PEG ratio of 0.65 and a beta of 1.43. The firm’s fifty day moving average is $71.94 and its 200 day moving average is $65.88.

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

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.