Beacon Harbor Wealth Advisors Inc. Acquires 2,808 Shares of Citigroup Inc. (NYSE:C)

Beacon Harbor Wealth Advisors Inc. boosted its stake in shares of Citigroup Inc. (NYSE:C) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,829 shares of the company’s stock after buying an additional 2,808 shares during the quarter. Citigroup makes up approximately 1.9% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 14th largest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Citigroup were worth $8,153,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brookstone Capital Management raised its stake in Citigroup by 340.6% in the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares during the period. Inspire Trust Co. N.A. increased its stake in shares of Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after purchasing an additional 8,301 shares during the period. FNY Investment Advisers LLC lifted its stake in shares of Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after buying an additional 12,280 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after buying an additional 20,291 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on C shares. The Goldman Sachs Group increased their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, Bank of America boosted their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Up 0.5 %

Shares of C stock opened at $81.17 on Wednesday. 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 Inc. has a 12-month low of $52.24 and a 12-month high of $82.91. The stock has a market capitalization of $153.51 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.65 and a beta of 1.44. The firm’s 50 day moving average is $75.05 and its 200 day moving average is $67.41.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

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