Soltis Investment Advisors LLC Purchases 3,946 Shares of Citigroup Inc. (NYSE:C)

Soltis Investment Advisors LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 3.5% during the fourth quarter, HoldingsChannel reports. The firm owned 116,370 shares of the company’s stock after purchasing an additional 3,946 shares during the period. Citigroup comprises 0.8% of Soltis Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Soltis Investment Advisors LLC’s holdings in Citigroup were worth $8,191,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares in the last quarter. Franklin Resources Inc. lifted its position in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Fisher Asset Management LLC increased its holdings in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in Citigroup by 9.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Citigroup by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock valued at $670,021,000 after purchasing an additional 240,628 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.7 %

C stock opened at $81.73 on Monday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.91. 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 business has a 50-day moving average of $74.67 and a 200-day moving average of $67.18. The stock has a market capitalization of $154.57 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 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 for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.74%. Citigroup’s dividend payout ratio is presently 37.65%.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.