Citigroup Inc. (NYSE:C) Shares Purchased by Webster Bank N. A.

Webster Bank N. A. raised its position in Citigroup Inc. (NYSE:C) by 150.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Webster Bank N. A.’s holdings in Citigroup were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in Citigroup in the third quarter worth approximately $31,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the 3rd quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter worth $31,000. GHP Investment Advisors Inc. grew its stake in shares of Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares in the last quarter. Finally, Berbice Capital Management LLC purchased a new position in Citigroup in the fourth quarter valued at $42,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on C shares. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Oppenheimer cut their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

Shares of C opened at $81.07 on Tuesday. The stock has a market capitalization of $153.33 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.65 and a beta of 1.43. 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 Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The company’s fifty day moving average is $72.71 and its two-hundred day moving average is $66.21.

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 net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.