Royal Fund Management LLC Invests $1.29 Million in Citigroup Inc. (NYSE:C)

Royal Fund Management LLC acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,353 shares of the company's stock, valued at approximately $1,292,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Caxton Associates LP lifted its stake in shares of Citigroup by 96.1% in the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company's stock valued at $250,821,000 after purchasing an additional 1,937,038 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company's stock valued at $283,692,000 after purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company's stock valued at $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company's stock valued at $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

C has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, January 16th. Bank of America boosted 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. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They set a "buy" rating and a $85.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $83.93.

Citigroup Stock Performance

Shares of C stock traded up $1.75 during mid-day trading on Tuesday, reaching $81.74. The stock had a trading volume of 21,143,504 shares, compared to its average volume of 19,294,318. The firm's 50 day simple moving average is $71.43 and its 200 day simple moving average is $65.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a one year low of $51.95 and a one year high of $81.85. The firm has a market cap of $154.59 billion, a PE ratio of 13.74, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. During the same period in the prior year, the firm posted $0.84 EPS. Citigroup's quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post 7.49 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 annualized dividend and a yield of 2.74%. Citigroup's payout ratio is 37.65%.

Citigroup declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board 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.