Myriad Asset Management US LP Takes $2.23 Million Position in Citigroup Inc. (NYSE:C)

Myriad Asset Management US LP acquired a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 31,605 shares of the company’s stock, valued at approximately $2,225,000. Citigroup accounts for approximately 1.5% of Myriad Asset Management US LP’s investment portfolio, making the stock its 14th largest holding.

Several other large investors also recently modified their holdings of C. Core Alternative Capital grew its position in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter worth $31,000. Northwest Investment Counselors LLC acquired a new position in Citigroup during the 3rd quarter worth $28,000. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Finally, GHP Investment Advisors Inc. lifted 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 purchasing an additional 368 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 3.1 %

Shares of NYSE:C opened at $84.62 on Friday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.67. The company has a market capitalization of $160.04 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The company has a 50-day simple moving average of $75.69 and a 200 day simple moving average of $67.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.65%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its Board of Directors has initiated 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

C has been the topic of a number of analyst reports. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Evercore ISI raised their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.