Janney Montgomery Scott LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

Janney Montgomery Scott LLC lowered its stake in Citigroup Inc. (NYSE:C) by 0.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 634,144 shares of the company’s stock after selling 4,828 shares during the period. Janney Montgomery Scott LLC’s holdings in Citigroup were worth $44,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock worth $3,414,000 after purchasing an additional 1,410,950 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in Citigroup during the fourth quarter valued at approximately $216,000. Kelleher Financial Advisors boosted its holdings in Citigroup by 2.7% in the fourth quarter. Kelleher Financial Advisors now owns 7,157 shares of the company’s stock worth $504,000 after purchasing an additional 187 shares during the last quarter. Janney Capital Management LLC grew its position in Citigroup by 134.0% in the 4th quarter. Janney Capital Management LLC now owns 290,219 shares of the company’s stock worth $20,429,000 after purchasing an additional 166,168 shares during the period. Finally, Magnus Financial Group LLC raised its stake in Citigroup by 37.2% during the 4th quarter. Magnus Financial Group LLC now owns 6,443 shares of the company’s stock valued at $454,000 after buying an additional 1,747 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI raised their price objective 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. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Performance

NYSE:C opened at $81.98 on Friday. The stock has a 50-day moving average price of $72.21 and a 200 day moving average price of $66.00. The stock has a market capitalization of $155.04 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the firm posted $0.84 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently disclosed 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. This represents a $2.24 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

About Citigroup

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.