Sonora Investment Management Group LLC Cuts Holdings in Citigroup Inc. (NYSE:C)

Sonora Investment Management Group LLC decreased its holdings in Citigroup Inc. (NYSE:C) by 10.0% in the fourth quarter, Holdings Channel reports. The fund owned 3,439 shares of the company’s stock after selling 383 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Citigroup were worth $242,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dana Investment Advisors Inc. lifted its stake in Citigroup by 1.5% in the second quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock worth $1,331,000 after purchasing an additional 312 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Citigroup by 99.2% during the second quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock valued at $2,893,000 after buying an additional 22,706 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup in the second quarter worth $31,000. Sanctuary Advisors LLC purchased a new position in Citigroup in the second quarter worth $8,471,000. Finally, Trust Co. of Toledo NA OH grew its holdings in Citigroup by 11.8% in the third quarter. Trust Co. of Toledo NA OH now owns 16,504 shares of the company’s stock worth $1,033,000 after purchasing an additional 1,746 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $81.43 on Friday. The firm has a 50 day simple moving average of $73.67 and a 200-day simple moving average of $66.64. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $154.01 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. On average, analysts expect that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company Profile

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.