Citigroup Inc. (NYSE:C) is Salzhauer Michael’s 3rd Largest Position

Salzhauer Michael lifted its stake in Citigroup Inc. (NYSE:C) by 50.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 393,650 shares of the company’s stock after acquiring an additional 131,505 shares during the period. Citigroup makes up about 9.4% of Salzhauer Michael’s holdings, making the stock its 3rd largest holding. Salzhauer Michael’s holdings in Citigroup were worth $27,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Citigroup in the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the third quarter worth $28,000. Webster Bank N. A. boosted its stake in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. GHP Investment Advisors Inc. grew its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares in the last quarter. Finally, Berbice Capital Management LLC bought a new position in Citigroup in the 4th quarter worth about $42,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE:C opened at $81.73 on Monday. 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 company has a market cap of $154.57 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.91. The company has a 50-day moving average price of $74.67 and a 200-day moving average price of $67.18.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated a share buyback program 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 programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Analysts Set New Price Targets

C has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup 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.