Daymark Wealth Partners LLC Purchases New Position in Citigroup Inc. (NYSE:C)

Daymark Wealth Partners LLC acquired a new position in Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,927 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Citigroup during the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the 3rd quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its holdings in Citigroup by 184.0% during 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 during the period. Finally, Hazlett Burt & Watson Inc. lifted its position in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Evercore ISI boosted 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, January 16th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Down 0.7 %

NYSE:C opened at $81.41 on Friday. The firm has a 50-day simple moving average of $72.47 and a 200-day simple moving average of $66.11. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The firm has a market cap of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm 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 2.75%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership 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.