Herbst Group LLC Has $1.59 Million Holdings in Citigroup Inc. (NYSE:C)

Herbst Group LLC lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,511 shares of the company's stock after buying an additional 3,655 shares during the quarter. Herbst Group LLC's holdings in Citigroup were worth $1,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup in the 2nd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the 3rd quarter worth approximately $31,000. GHP Investment Advisors Inc. increased its holdings in shares of 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 purchasing an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company's stock valued at $39,000 after buying an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 2.0 %

NYSE C traded up $1.54 on Friday, hitting $80.05. The company's stock had a trading volume of 22,070,430 shares, compared to its average volume of 10,393,282. The firm has a market cap of $151.40 billion, a PE ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The company's 50-day moving average is $71.22 and its 200 day moving average is $65.53. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 1-year low of $50.51 and a 1-year high of $80.45.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $19.51 billion. During the same period last year, the company earned $0.84 EPS. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.80%. Citigroup's payout ratio is 64.93%.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on C. Bank of America increased 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. Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research note on Thursday. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Truist Financial started coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a "buy" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

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.