Avitas Wealth Management LLC Raises Position in Citigroup Inc. (NYSE:C)

Avitas Wealth Management LLC lifted its stake in shares of Citigroup Inc. (NYSE:C) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,907 shares of the company’s stock after acquiring an additional 143 shares during the quarter. Avitas Wealth Management LLC’s holdings in Citigroup were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of C. E. Ohman J or Asset Management AB grew its holdings in Citigroup by 10.6% during the 4th quarter. E. Ohman J or Asset Management AB now owns 86,030 shares of the company’s stock worth $6,056,000 after acquiring an additional 8,230 shares in the last quarter. Mather Group LLC. grew its stake in shares of Citigroup by 16.0% during the fourth quarter. Mather Group LLC. now owns 4,768 shares of the company’s stock worth $336,000 after purchasing an additional 658 shares in the last quarter. Brown Lisle Cummings Inc. increased its holdings in Citigroup by 20.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 7,183 shares of the company’s stock valued at $506,000 after buying an additional 1,213 shares during the last quarter. First Dallas Securities Inc. raised its stake in Citigroup by 5.2% in the fourth quarter. First Dallas Securities Inc. now owns 10,267 shares of the company’s stock valued at $723,000 after buying an additional 503 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in Citigroup by 17.8% during the 4th quarter. Calamos Wealth Management LLC now owns 4,072 shares of the company’s stock worth $287,000 after buying an additional 614 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 1.4 %

Citigroup stock opened at $78.52 on Wednesday. The stock has a 50 day moving average of $74.02 and a two-hundred day moving average of $66.83. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. The stock has a market capitalization of $148.50 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.64 and a beta of 1.44. 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 issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. 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 2.85%. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Morgan Stanley increased their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. 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 an average rating of “Moderate Buy” and an average price target of $83.93.

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.