JBGlobal.com LLC Makes New $292,000 Investment in Citigroup Inc. (NYSE:C)

JBGlobal.com LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,145 shares of the company’s stock, valued at approximately $292,000. Citigroup makes up 0.3% of JBGlobal.com LLC’s investment portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the second quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in Citigroup in the third quarter valued at $31,000. GHP Investment Advisors Inc. grew its position in 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 purchasing an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE C opened at $81.74 on Wednesday. The stock has a market capitalization of $154.59 billion, a PE ratio of 13.74, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $51.95 and a fifty-two week high of $81.85. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average price of $71.43 and a two-hundred day moving average price of $65.65.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.49 earnings per share for the current fiscal year.

Citigroup declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.74%. Citigroup’s payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.