Cibc World Market Inc. Has $96.13 Million Stock Position in Citigroup Inc. (NYSE:C)

Cibc World Market Inc. boosted its stake in shares of Citigroup Inc. (NYSE:C) by 19.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,365,633 shares of the company’s stock after buying an additional 220,511 shares during the quarter. Cibc World Market Inc.’s holdings in Citigroup were worth $96,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mediolanum International Funds Ltd acquired a new position in Citigroup during the 4th quarter valued at about $10,295,000. Crews Bank & Trust acquired a new stake in Citigroup during the 4th quarter worth approximately $175,000. OLD National Bancorp IN grew its stake in shares of Citigroup by 3.4% during the 4th quarter. OLD National Bancorp IN now owns 371,586 shares of the company’s stock worth $26,156,000 after acquiring an additional 12,120 shares in the last quarter. Busey Bank grew its stake in shares of Citigroup by 3.0% during the 4th quarter. Busey Bank now owns 189,779 shares of the company’s stock worth $13,359,000 after acquiring an additional 5,572 shares in the last quarter. Finally, BDF Gestion grew its stake in shares of Citigroup by 57.1% in the fourth quarter. BDF Gestion now owns 95,564 shares of the company’s stock valued at $6,727,000 after buying an additional 34,719 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $81.88 on Friday. The firm has a market cap of $154.86 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a 50 day moving average price of $73.44 and a 200-day moving average price of $66.53. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

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

Citigroup announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on C shares. Morgan Stanley raised their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer reduced their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods raised their price objective 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. Piper Sandler reissued 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. Finally, Evercore ISI upped their price objective 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. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.