RFG Advisory LLC Buys 1,476 Shares of Citigroup Inc. (NYSE:C)

RFG Advisory LLC boosted its position in shares of Citigroup Inc. (NYSE:C) by 17.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,868 shares of the company’s stock after buying an additional 1,476 shares during the quarter. RFG Advisory LLC’s holdings in Citigroup were worth $695,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the second quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in Citigroup during the third quarter valued at $31,000. GHP Investment Advisors Inc. boosted its holdings in shares of 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 in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Citigroup by 69.3% in the 3rd 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 period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Morgan Stanley raised their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Bank of America increased their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Performance

C stock opened at $81.41 on Monday. 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 price-to-earnings ratio of 13.68, a PEG 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. The firm has a 50-day simple moving average of $72.47 and a two-hundred day simple moving average of $66.10.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal 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 given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s dividend payout ratio is currently 37.65%.

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

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.