InTrack Investment Management Increases Citigroup Holdings

InTrack Investment Management Inc has recently increased its holdings in shares of Citigroup Inc. (NYSE:C) by a notable 28.9% during the fourth quarter of the year. According to their latest filing with the Securities and Exchange Commission, the firm now owns 19,412 shares of Citigroup's stock after acquiring an additional 4,347 shares in this quarter. By the end of the quarter, InTrack Investment Management Inc's investment in Citigroup was valued at approximately $1,427,000.

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Other institutional investors and hedge funds have also made significant transactions in Citigroup shares recently. For instance, Lifestyle Asset Management Inc increased its stake in the company by 4.5% during the third quarter, bringing its total to 3,730 shares, valued at $233,000 after an additional acquisition of 160 shares. Meanwhile, Grove Bank & Trust raised its holdings by 7.1%, owning 2,564 shares worth $161,000 after purchasing 170 shares earlier in the quarter.

Additionally, MWA Asset Management saw a 1.4% increase, now owning 12,585 shares valued at $788,000 following the acquisition of 173 shares. Bridge Creek Capital Management LLC's holdings rose by 0.3%, resulting in a total of 67,236 shares worth $4,209,000 after buying another 175 shares. Lastly, Venturi Wealth Management LLC increased its position by 9.3% and now holds 2,048 shares valued at $128,000 after acquiring 175 more shares. Overall, hedge funds and institutional investors together hold about 71.72% of Citigroup’s stock.

Changes in Analyst Ratings

Recent comments from various research analysts regarding Citigroup's shares have been quite varied. Evercore ISI raised its price target from $69.00 to $79.00 and maintained an "in-line" rating on the stock. Morgan Stanley increased its target price from $104.00 to $109.00, providing an "overweight" rating in their report. In a separate research note, Bank of America adjusted their price target from $90.00 to $95.00 while assigning a "buy" rating on January 7th.

Keefe, Bruyette & Woods also raised their price objective for Citigroup from $85.00 to $92.00, giving the company an "outperform" rating. Additionally, Oppenheimer downgraded their outlook, lowering the target from $110.00 to $102.00 while keeping an "outperform" rating. Among the analysts, four have rated the stock as a hold, while twelve have given it a buy rating. According to MarketBeat, the consensus rating for Citigroup’s shares is a "Moderate Buy" with a consensus price target set at $83.93.

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Latest Stock Report on Citigroup

Citigroup Stock Performance

On Friday, Citigroup's stock opened at $80.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96, and a quick ratio of 0.96. Its fifty-day moving average stands at $71.22 while the two-hundred day moving average is at $65.52. Citigroup has experienced a fifty-two week low of $50.51 and a high of $80.45, with a market capitalization of $151.40 billion. The company's price-to-earnings (P/E) ratio is 23.20, along with a P/E growth ratio of 0.59 and a beta of 1.43.

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Citigroup's latest quarterly earnings report was announced on January 15th, showing the company reported earnings per share (EPS) of $1.34, surpassing analysts’ expectations of $1.22 by $0.12. Citigroup’s net margin for the quarter stood at 4.70%, and the return on equity was 6.19%. The company reported revenues of $19.58 billion compared to the anticipated $19.51 billion, marking a 12.3% increase from the same quarter last year when they earned $0.84 EPS.

Dividend Announcement from Citigroup

Furthermore, Citigroup recently declared a quarterly dividend to be paid on February 28th. Shareholders of record as of February 3rd will receive a $0.56 dividend, which translates to an annualized dividend of $2.24 and offers a yield of 2.80%. The ex-dividend date for this announcement is also February 3rd. The company’s dividend payout ratio (DPR) is reported at 37.65%.

On January 15th, Citigroup's Board of Directors approved a stock repurchase plan that allows the company to repurchase up to $20 billion in shares. This strategy permits purchases of up to 13.5% of its outstanding shares in open market transactions, signaling that the company's leadership believes the stock may be undervalued.

Understanding Citigroup's Operations

Citigroup Inc. is a diverse financial services holding company offering a range of financial products and services to consumers, corporations, governments, and institutions across the globe. It operates through five main segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which offers cash management, trade, and working capital solutions tailored for multinational corporations, financial institutions, and public sector organizations. In addition, they provide Securities Services, focusing on cross-border support, local market expertise, post-trade technologies, data solutions, and other securities services.

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This news report has been generated to provide readers with the most relevant and up-to-date information about Citigroup. Any queries regarding the details can be directed to the appropriate channels.

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Citigroup, Investment, Earnings