Armstrong Advisory Group Inc. Grows Position in Citigroup Inc. (NYSE:C)

Armstrong Advisory Group Inc. boosted its position in shares of Citigroup Inc. (NYSE:C) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,316 shares of the company’s stock after purchasing an additional 208 shares during the period. Armstrong Advisory Group Inc.’s holdings in Citigroup were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lifestyle Asset Management Inc. lifted its position in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares during the last quarter. Grove Bank & Trust lifted its holdings in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares in the last quarter. MWA Asset Management lifted its holdings in Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after buying an additional 173 shares in the last quarter. Bridge Creek Capital Management LLC boosted its position in Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after buying an additional 175 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Citigroup by 9.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock worth $128,000 after acquiring an additional 175 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on C shares. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of C opened at $78.51 on Friday. The company has a 50 day moving average of $70.78 and a two-hundred day moving average of $65.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a twelve month low of $50.51 and a twelve month high of $79.25. The company has a market cap of $148.47 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

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.