J.W. Cole Advisors Inc. Acquires 3,086 Shares of Citigroup Inc. (NYSE:C)

J.W. Cole Advisors Inc. grew its holdings in shares of Citigroup Inc. (NYSE:C) by 32.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,594 shares of the company’s stock after acquiring an additional 3,086 shares during the period. J.W. Cole Advisors Inc.’s holdings in Citigroup were worth $887,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Hemington Wealth Management increased its position in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the last quarter. Avitas Wealth Management LLC increased its position in shares of Citigroup by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock worth $1,612,000 after buying an additional 143 shares during the period. Robertson Stephens Wealth Management LLC raised its stake in Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after buying an additional 150 shares during the last quarter. Finally, Lifestyle Asset Management Inc. lifted its holdings in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on C shares. Morgan Stanley increased their price target on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock 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 research report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $84.59 on Wednesday. The stock has a market cap of $159.99 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm’s 50-day simple moving average is $76.19 and its 200 day simple moving average is $68.12.

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 analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a share 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 repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued 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 2.65%. Citigroup’s dividend payout ratio is currently 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.