Investments in Citigroup Inc. Increase by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. has increased its investment in Citigroup Inc. (NYSE:C - Free Report) by 7.3% during the fourth quarter. This information comes from the company’s latest filings with the SEC. After adding 5,821 shares during this period, Farmers & Merchants Investments now holds a total of 85,480 shares in Citigroup. At the end of the fourth quarter, these shares were valued at approximately $6,017,000.

Recently, several other hedge funds have also adjusted their positions in Citigroup. For instance, Wilmington Savings Fund Society FSB raised its holdings by 14.9% during the fourth quarter, acquiring 5,679 additional shares to reach a total of 43,870 shares valued at $3,088,000. D Orazio & Associates Inc. increased its stake by 8.1%, bringing its total to 5,501 shares worth $387,000 after buying 410 shares. Meanwhile, Kingsview Wealth Management LLC lifted its position by 4.7%, now owning 16,946 shares valued at $1,193,000 after acquiring 760 additional shares. Apollon Wealth Management LLC also grew its stake by 11.4%, reaching 53,927 shares valued at $3,796,000 after purchasing another 5,534 shares. Finally, MWA Asset Management increased its holdings by 12.7%, now owning 14,183 shares worth $998,000 after a purchase of 1,598 shares in the past quarter. As it stands, approximately 71.72% of Citigroup’s stock is held by institutional investors.

Citigroup Stock Performance

As of the recent trading session, Citigroup's stock opened at $81.73. The company boasts a market capitalization of $154.57 billion, with a price-to-earnings ratio of 13.74 and a PEG ratio of 0.64. Over the past year, Citigroup has seen a low of $52.24 and a high of $82.91. The fifty-day moving average for the stock is $74.67, while the two-hundred-day moving average is $67.14. Other financial metrics include a debt-to-equity ratio of 1.50, a current ratio of 0.96, and a quick ratio of 0.96.

In its latest earnings report released on January 15, Citigroup posted an earnings per share (EPS) of $1.34 for the quarter, surpassing analysts' expectations of $1.22 by $0.12. The company reported revenue of $19.58 billion, above the consensus estimate of $19.51 billion. Compared to the same quarter last year, Citigroup's quarterly revenue increased by 12.3%, as the firm had an EPS of $0.84 during the previous year. Analysts anticipate Citigroup Inc. will post an EPS of 7.51 for the current year.

Stock Buyback Plan Announced

On January 15, Citigroup also announced a stock repurchase plan authorized by its Board of Directors, allowing the company to buy back $20 billion in outstanding shares. This plan permits the company to repurchase up to 13.5% of its shares through market purchases, reflecting the board's belief that the current share price is undervalued.

Dividend Announcement

Citigroup declared a quarterly dividend recently, which is set to be paid on February 28. Shareholders recorded as of February 3 will receive a dividend of $0.56 per share, translating to an annual dividend of $2.24 and a yield of 2.74%. The ex-dividend date is also February 3. Citigroup's dividend payout ratio stands at 37.65%.

Analyst Ratings and Price Targets

Equity research analysts have issued various reports concerning Citigroup. Recently, Wells Fargo & Company raised its price target from $85.00 to $95.00, rating the stock as "overweight" in a report on November 15. Truist Financial started covering Citigroup on January 7, assigning a "buy" rating with a price target of $85.00. Similarly, Bank of America lifted its price target from $90.00 to $95.00, maintaining a "buy" rating. The Goldman Sachs Group also increased its target from $77.00 to $86.00, and Keefe, Bruyette & Woods adjusted its price objective from $85.00 to $92.00, rating the company as "outperform." Currently, four analysts rate Citigroup as a hold, while twelve have assigned it a buy rating. Data from MarketBeat indicates a consensus rating of "Moderate Buy" with a target price of $83.93.

About Citigroup Inc.

Citigroup Inc. serves as a diversified financial holding company that offers a wide range of financial products and services to various clients, including consumers, corporations, governments, and institutions worldwide. The company operates across five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. Within the Services segment, it offers Treasury and Trade Solutions, which encompass services like cash management and trade solutions to multinational corporations and public sector organizations.

investment, Citigroup, funds