Creative Capital Management Investments LLC Acquires New Position in Citigroup Inc. (NYSE:C)

Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 492 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Core Alternative Capital grew its position in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Citigroup during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% in the third 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 period. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Piper Sandler restated 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. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

NYSE C opened at $84.62 on Tuesday. The firm has a market cap of $160.04 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. The company has a 50-day simple moving average of $75.95 and a two-hundred day simple moving average of $67.93. 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 Inc. has a 12-month low of $53.51 and a 12-month high of $84.67.

Citigroup (NYSE:C) last posted its quarterly earnings results 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. 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 period last year, the company earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company 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 $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

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

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.