Allspring Global Investments Holdings LLC Raises Stake in Citigroup Inc. (NYSE:C)

Allspring Global Investments Holdings LLC grew its holdings in Citigroup Inc. (NYSE:C) by 6.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,278,234 shares of the company’s stock after acquiring an additional 141,002 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Citigroup were worth $159,383,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Core Alternative Capital increased its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Citigroup during the 3rd quarter worth approximately $31,000. Webster Bank N. A. raised its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in 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 buying an additional 368 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Morgan Stanley lifted their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Performance

C opened at $81.17 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $75.05 and its 200-day moving average is $67.41. The stock has a market cap of $153.51 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.91.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for 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%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. On average, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

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

Citigroup declared that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Citigroup Company 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.