Farmers & Merchants Investments Increases Stake in Citigroup

Farmers & Merchants Investments Inc. has recently reported to the SEC that it has increased its holding in Citigroup Inc. (NYSE:C) by 7.3% during the fourth quarter. Following this acquisition, the firm now possesses a total of 85,480 shares in Citigroup, after purchasing an additional 5,821 shares in that time frame. As of the latest quarter, the value of this investment stood at approximately $6,017,000.

Modifications by Other Hedge Funds

In addition to Farmers & Merchants Investments, several other hedge funds have also 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 additional shares. Similarly, D Orazio & Associates Inc. boosted its stake by 8.1%, holding 5,501 shares worth $387,000 after adding 410 shares. Kingsview Wealth Management LLC raised its holdings by 4.7% and now possesses 16,946 shares valued at $1,193,000 after purchasing 760 shares. Meanwhile, Apollon Wealth Management LLC grew its position by 11.4%, ending the quarter with 53,927 shares worth $3,796,000 following the acquisition of 5,534 shares. Lastly, MWA Asset Management also expanded its stake by 12.7%, owning 14,183 shares valued at $998,000 after an increase of 1,598 shares. Currently, institutional investors and hedge funds own 71.72% of Citigroup’s stock.

Market Performance of Citigroup

As of Friday, Citigroup’s stock was opened at $81.73. The company has a market capitalization of $154.57 billion. Citigroup's price-to-earnings ratio stands at 13.74, with a price-to-earnings growth ratio (PEG) of 0.64 and a beta of 1.44. Over the past year, Citigroup shares have fluctuated, reaching a low of $52.24 and a high of $82.91. The fifty-day moving average price is recorded at $74.67, and the two-hundred-day moving average at $67.14. Financial indicators show a debt-to-equity ratio of 1.50 and a current ratio of 0.96.

Recent Earnings and Dividend Announcements

Citigroup recently reported its earnings for the quarter ending January 15th, revealing an earnings per share (EPS) of $1.34, exceeding analysts' expectations of $1.22 by $0.12. The company generated revenue of $19.58 billion, slightly above the consensus estimate of $19.51 billion. Compared to the same quarter in the previous year, Citigroup's quarterly revenue increased by 12.3%, with a prior year EPS of $0.84. Analysts anticipate Citigroup will achieve an EPS of 7.51 for the current year.

Additionally, Citigroup's Board of Directors has approved a stock repurchase plan, enabling the company to buy back $20 billion in shares. This plan allows Citigroup to repurchase up to 13.5% of its shares, signaling confidence from the board in the company's valuation.

Moreover, the company announced the declaration of a quarterly dividend of $0.56 per share, which is set to be paid on February 28th to shareholders recorded as of February 3rd. This results in an annualized dividend of $2.24, equating to a dividend yield of 2.74%.

Analyst Ratings and Future Insights

Recent analysis from investment firms reveals various outlooks on Citigroup shares. Wells Fargo raised its price target from $85.00 to $95.00, maintaining an 'overweight' rating. Similarly, Truist Financial initiated coverage with a 'buy' rating and a price target of $85.00. Other firms, such as Bank of America and Goldman Sachs, have increased their price expectations, with targets set at $95.00 and $86.00, respectively. Overall, the stock has received a consensus rating of 'Moderate Buy,' with a price target averaging around $83.93, according to MarketBeat data.

Understanding Citigroup

Citigroup Inc. is a well-established financial services holding company that offers a wide array of financial products and services to individuals, corporations, and governments worldwide. It operates through several segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth Management. Within its Services segment, offerings include Treasury and Trade Solutions, providing cash management and working capital solutions for multinational corporations and institutions.

Citigroup, Investments, Hedge