Davis Investment Partners LLC Invests $202,000 in Citigroup Inc. (NYSE:C)

Davis Investment Partners LLC bought a new stake in Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,827 shares of the company’s stock, valued at approximately $202,000.

A number of other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the third quarter valued at about $31,000. 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 acquiring an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE C traded up $1.54 during midday trading on Monday, hitting $72.94. 16,534,150 shares of the company’s stock traded hands, compared to its average volume of 14,594,581. The firm has a fifty day moving average of $70.19 and a 200 day moving average of $65.07. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $137.95 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $74.29.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is 64.93%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley dropped their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Bank of America boosted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler increased their target price on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.13.

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.