Citigroup Inc. (NYSE:C) Shares Sold by Northern Financial Advisors Inc

Northern Financial Advisors Inc trimmed its stake in Citigroup Inc. (NYSE:C) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,090 shares of the company’s stock after selling 299 shares during the quarter. Northern Financial Advisors Inc’s holdings in Citigroup were worth $429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Core Alternative Capital increased its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup during the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, GHP Investment Advisors Inc. grew its position in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 1.0 %

Shares of NYSE:C opened at $82.06 on Friday. The firm has a 50 day simple moving average of $75.44 and a 200 day simple moving average of $67.61. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $82.91. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $155.19 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results 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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior 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 7.53 earnings per share for the current year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.73%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. 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 report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.