InTrack Investment Management Inc Grows Position in Citigroup Inc. (NYSE:C)

InTrack Investment Management Inc grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 28.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,412 shares of the company's stock after purchasing an additional 4,347 shares during the period. InTrack Investment Management Inc's holdings in Citigroup were worth $1,427,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. grew its stake in Citigroup by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 339,400 shares of the company's stock worth $21,538,000 after purchasing an additional 7,778 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Citigroup by 20.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 231,117 shares of the company's stock valued at $14,667,000 after buying an additional 39,725 shares during the period. Blair William & Co. IL grew its position in shares of Citigroup by 3.8% during the second quarter. Blair William & Co. IL now owns 151,630 shares of the company's stock worth $9,622,000 after buying an additional 5,481 shares in the last quarter. WCG Wealth Advisors LLC purchased a new stake in shares of Citigroup during the second quarter worth approximately $666,000. Finally, Intech Investment Management LLC raised its holdings in Citigroup by 2.9% in the second quarter. Intech Investment Management LLC now owns 104,407 shares of the company's stock valued at $6,626,000 after acquiring an additional 2,896 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Price Performance

Citigroup stock traded up $1.54 during mid-day trading on Friday, reaching $80.05. The company had a trading volume of 22,070,430 shares, compared to its average volume of 10,393,282. The stock's 50-day simple moving average is $71.22 and its 200-day simple moving average is $65.53. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $80.45. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results 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 6.19% and a net margin of 4.70%. The business had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter last year, the business posted $0.84 earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post 5.88 EPS for the current year.

Citigroup declared that its Board of Directors has authorized 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 repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Citigroup Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on C shares. Piper Sandler restated an "overweight" rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group upped their price target on Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a report on Thursday. 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 research report on Monday, January 6th. Finally, Morgan Stanley increased their target price on shares of Citigroup from $104.00 to $109.00 and gave the company an "overweight" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average 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.