1858 Wealth Management LLC Has $253,000 Position in Citigroup Inc. (NYSE:C)

1858 Wealth Management LLC cut its stake in Citigroup Inc. (NYSE:C) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,593 shares of the company’s stock after selling 199 shares during the period. 1858 Wealth Management LLC’s holdings in Citigroup were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of C. Avitas Wealth Management LLC raised its stake in Citigroup by 0.6% during the 4th 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. E. Ohman J or Asset Management AB raised its position in shares of Citigroup by 10.6% during the fourth quarter. E. Ohman J or Asset Management AB now owns 86,030 shares of the company’s stock worth $6,056,000 after purchasing an additional 8,230 shares during the period. Mather Group LLC. lifted its holdings in shares of Citigroup by 16.0% during the 4th quarter. Mather Group LLC. now owns 4,768 shares of the company’s stock valued at $336,000 after purchasing an additional 658 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in shares of Citigroup by 20.3% in the 4th quarter. Brown Lisle Cummings Inc. now owns 7,183 shares of the company’s stock valued at $506,000 after purchasing an additional 1,213 shares during the period. Finally, First Dallas Securities Inc. grew its position in shares of Citigroup by 5.2% in the 4th quarter. First Dallas Securities Inc. now owns 10,267 shares of the company’s stock valued at $723,000 after purchasing an additional 503 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on C shares. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

NYSE:C opened at $78.52 on Wednesday. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The firm has a market capitalization of $148.50 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.64 and a beta of 1.44. The stock’s 50 day moving average price is $74.02 and its two-hundred day moving average price is $66.83. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its quarterly 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has approved 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 reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.