Intelligence Driven Advisers LLC Lowers Holdings in Citigroup Inc. (NYSE:C)

Intelligence Driven Advisers LLC reduced its stake in shares of Citigroup Inc. (NYSE:C) by 14.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,780 shares of the company’s stock after selling 775 shares during the period. Intelligence Driven Advisers LLC’s holdings in Citigroup were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of C. AMF Tjanstepension AB purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $4,607,000. Creative Planning lifted its position in Citigroup by 0.6% during the third quarter. Creative Planning now owns 381,362 shares of the company’s stock valued at $23,873,000 after purchasing an additional 2,372 shares during the last quarter. Swedbank AB grew its stake in shares of Citigroup by 1.3% in the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after buying an additional 54,782 shares in the last quarter. CFM Wealth Partners LLC raised its position in shares of Citigroup by 19.5% during the 3rd quarter. CFM Wealth Partners LLC now owns 4,899 shares of the company’s stock valued at $310,000 after buying an additional 800 shares in the last quarter. Finally, Opal Wealth Advisors LLC lifted its holdings in shares of Citigroup by 38.9% in the 3rd quarter. Opal Wealth Advisors LLC now owns 6,175 shares of the company’s stock valued at $387,000 after acquiring an additional 1,730 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI boosted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Performance

C stock opened at $81.24 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.91. The business has a 50-day moving average price of $75.25 and a 200 day moving average price of $67.51. The company has a market capitalization of $153.65 billion, a P/E ratio of 13.65, a PEG ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup 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.