Stratos Wealth Partners LTD. Trims Stock Position in Citigroup Inc. (NYSE:C)

Stratos Wealth Partners LTD. decreased its holdings in Citigroup Inc. (NYSE:C) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,177 shares of the company’s stock after selling 3,913 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Citigroup were worth $2,476,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in C. MassMutual Private Wealth & Trust FSB lifted its holdings in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares in 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 acquiring an additional 143 shares during the period. Lifestyle Asset Management Inc. raised its stake in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares during the period. Finally, MWA Asset Management boosted its holdings in shares of Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $81.73 on Friday. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.91. The business’s fifty day simple moving average is $74.67 and its 200-day simple moving average is $67.14. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $154.57 billion, a PE ratio of 13.74, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last announced 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on C shares. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. The Goldman Sachs Group raised their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Evercore ISI upped their price target 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.