132,720 Shares in Citigroup Inc. (NYSE:C) Bought by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 132,720 shares of the company's stock, valued at approximately $9,342,000.

Other large investors also recently made changes to their positions in the company. Lifestyle Asset Management Inc. boosted its position in Citigroup by 4.5% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company's stock worth $233,000 after acquiring an additional 160 shares during the last quarter. Grove Bank & Trust boosted its holdings in Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company's stock worth $161,000 after purchasing an additional 170 shares during the last quarter. MWA Asset Management grew its position in Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company's stock valued at $788,000 after purchasing an additional 173 shares in the last quarter. Bridge Creek Capital Management LLC increased its stake in Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company's stock valued at $4,209,000 after buying an additional 175 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Citigroup by 9.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company's stock worth $128,000 after buying an additional 175 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the topic of several recent analyst reports. Evercore ISI boosted 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. Bank of America upped their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Truist Financial initiated coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a "buy" rating and a $85.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a research note on Thursday. Four 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.93.

Citigroup Price Performance

Shares of NYSE:C traded up $1.54 during midday trading on Friday, hitting $80.05. The stock had a trading volume of 22,070,430 shares, compared to its average volume of 10,393,282. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company's 50-day moving average price is $71.22 and its 200-day moving average price is $65.52. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $80.45.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, equities research analysts predict that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. Citigroup's dividend payout ratio (DPR) is presently 64.93%.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

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.