Farmers & Merchants Investments Increases Stake in Citigroup

Farmers & Merchants Investments Inc. has expanded its holdings in Citigroup Inc. (NYSE:C - Free Report) by 7.3% during the fourth quarter of the year, as revealed in its latest SEC disclosure. Following this acquisition, the firm now holds a total of 85,480 shares in Citigroup after purchasing an additional 5,821 shares during this period, with a total value of approximately $6,017,000.

Changes in Citigroup Holdings by Other Firms

In addition to Farmers & Merchants Investments, several other hedge funds have adjusted their positions in Citigroup. Wilmington Savings Fund Society FSB increased its holdings by 14.9% in the fourth quarter, now owning 43,870 shares valued at $3,088,000 after acquiring 5,679 more shares. Similarly, D Orazio & Associates Inc. raised its stake in Citigroup by 8.1%, ending up with 5,501 shares worth $387,000 after an additional purchase of 410 shares. Meanwhile, Kingsview Wealth Management LLC's position grew by 4.7%, holding 16,946 shares valued at $1,193,000 after buying 760 additional shares. Also, Apollon Wealth Management LLC boosted its holdings by 11.4%, now possessing 53,927 shares worth $3,796,000 following the acquisition of 5,534 shares. Finally, MWA Asset Management enhanced its position by 12.7%, bringing its total to 14,183 shares valued at $998,000 after purchasing 1,598 more shares. Collectively, hedge funds and other institutional investors own 71.72% of Citigroup's stock.

Citigroup's Recent Stock Performance

As of Friday, Citigroup's stock opened at $81.73. The company boasts a market cap of $154.57 billion, a price-to-earnings ratio of 13.74, and a PEG ratio of 0.64, with a beta of 1.44. Citigroup's shares have seen a low of $52.24 and a high of $82.91 within the past year. The fifty-day moving average price is recorded at $74.67, while the two-hundred-day moving average stands at $67.14. Furthermore, Citigroup has a debt-to-equity ratio of 1.50, along with a current ratio of 0.96 and a quick ratio of 0.96.

Earnings Report Highlights

On January 15th, Citigroup released its latest earnings results, reporting an EPS of $1.34 for the quarter, surpassing analysts' expectations of $1.22 by $0.12. The company recorded a revenue of $19.58 billion for the quarter, exceeding the consensus estimate of $19.51 billion. Citigroup's return on equity was 6.62%, with a net margin of 7.43%. Compared to the same quarter of the previous year, the revenue increased by 12.3%, while the EPS for that period was $0.84. Analysts predict Citigroup Inc. may post an EPS of 7.51 for the current year.

Additionally, Citigroup announced a stock repurchase plan on January 15th, allowing the company to buy back up to $20 billion in outstanding shares, representing around 13.5% of its total shares. Such buyback plans are typically regarded as indicators that a company's board perceives its shares to be undervalued.

Dividend Declaration from Citigroup

Recently, Citigroup also declared a quarterly dividend, which is set to be paid on February 28th. Shareholders who are on record by February 3rd will receive $0.56 per share, which amounts to an annualized dividend of $2.24 with a yield of 2.74%. The ex-dividend date is February 3rd, and Citigroup's dividend payout ratio stands at 37.65%.

Analysts' Perspectives on Citigroup

Multiple analysts have provided insights on Citigroup shares recently. Wells Fargo & Company raised its price target from $85.00 to $95.00, recommending an "overweight" rating. Truist Financial began coverage with a "buy" rating and a target of $85.00. Bank of America also increased its target to $95.00, assigning a "buy" rating. Goldman Sachs adjusted their target from $77.00 to $86.00, and Keefe Bruyette & Woods updated theirs from $85.00 to $92.00 with an "outperform" rating. Of the analysts covering Citigroup, four suggest holding the stock, while twelve rate it as a buy. Currently, the consensus rating for Citigroup shares is "Moderate Buy" with an average price target of $83.93.

Overall, Citigroup Inc. operates as a diversified financial services holding company, offering a range of financial services to consumers, institutions, and governments worldwide, through several segments, including Services, Markets, Banking, U.S. Personal Banking, and Wealth.

Citigroup, Investment, Stocks