Triangle Securities Wealth Management Has $905,000 Stake in Citigroup Inc. (NYSE:C)

Triangle Securities Wealth Management lowered its holdings in Citigroup Inc. (NYSE:C) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,864 shares of the company’s stock after selling 399 shares during the quarter. Triangle Securities Wealth Management’s holdings in Citigroup were worth $905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup during the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup during the 2nd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in Citigroup during the 3rd quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its stake in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on C shares. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Morgan Stanley boosted their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Up 2.0 %

C stock opened at $80.05 on Friday. The stock has a fifty day moving average of $71.22 and a 200-day moving average of $65.52. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $80.45. The company has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last posted its 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. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue 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, equities research analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup declared that its board has authorized a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. Citigroup’s dividend payout ratio is currently 64.93%.

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.