LifePlan Financial LLC Sells 973 Shares of Citigroup Inc. (NYSE:C)

LifePlan Financial LLC reduced its stake in Citigroup Inc. (NYSE:C) by 6.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,060 shares of the company’s stock after selling 973 shares during the quarter. LifePlan Financial LLC’s holdings in Citigroup were worth $990,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in Citigroup during the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the 3rd quarter worth approximately $31,000. GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 2.0 %

Shares of C stock opened at $80.05 on Tuesday. The stock has a 50-day moving average of $71.43 and a 200-day moving average of $65.65. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $151.40 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1-year low of $50.51 and a 1-year high of $80.45.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the business earned $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.49 earnings per share for the current year.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared 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 of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

C has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI increased their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.