Calamos Advisors LLC Grows Holdings in Citigroup Inc. (NYSE:C)

Calamos Advisors LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 0.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 521,715 shares of the company’s stock after buying an additional 1,175 shares during the quarter. Calamos Advisors LLC’s holdings in Citigroup were worth $36,724,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Columbus Macro LLC grew its stake in shares of Citigroup by 52.3% in the fourth quarter. Columbus Macro LLC now owns 48,128 shares of the company’s stock worth $3,388,000 after acquiring an additional 16,530 shares during the period. Childress Capital Advisors LLC increased its position in shares of Citigroup by 4.6% in the 4th quarter. Childress Capital Advisors LLC now owns 5,004 shares of the company’s stock worth $352,000 after purchasing an additional 218 shares during the last quarter. Optas LLC lifted its stake in Citigroup by 27.3% during the fourth quarter. Optas LLC now owns 4,286 shares of the company’s stock worth $302,000 after purchasing an additional 920 shares during the period. Rheos Capital Works Inc. raised its stake in shares of Citigroup by 21.0% during the fourth quarter. Rheos Capital Works Inc. now owns 663,500 shares of the company’s stock valued at $46,704,000 after acquiring an additional 115,000 shares during the last quarter. Finally, One Wealth Advisors LLC increased its stake in Citigroup by 11.7% during the 4th quarter. One Wealth Advisors LLC now owns 7,354 shares of the company’s stock valued at $518,000 after purchasing an additional 769 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE C opened at $79.59 on Tuesday. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. The stock has a market cap of $150.52 billion, a P/E ratio of 13.38, a PEG ratio of 0.64 and a beta of 1.43. The company’s 50-day simple moving average is $73.85 and its 200 day simple moving average is $66.73. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on C shares. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. 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. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.