Premier Path Wealth Partners LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Premier Path Wealth Partners LLC grew its position in shares of Citigroup Inc. (NYSE:C) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,242 shares of the company’s stock after purchasing an additional 202 shares during the period. Premier Path Wealth Partners LLC’s holdings in Citigroup were worth $1,003,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Lifestyle Asset Management Inc. raised its stake in Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares in the last quarter. Grove Bank & Trust raised its position in shares of 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 raised its position in shares of 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 grew its position in Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Citigroup by 9.3% in the third 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 institutional investors.

Citigroup Stock Up 2.0 %

NYSE:C opened at $80.05 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $151.40 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a 50-day moving average of $71.22 and a 200 day moving average of $65.52. Citigroup Inc. has a 1-year low of $50.51 and a 1-year high of $80.45.

Citigroup (NYSE:C) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. 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 posted $0.84 earnings per share. As a group, research analysts anticipate that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup announced that its board has approved a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on C shares. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Bank of America upped their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price 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.