Advisory Resource Group Trims Holdings in Citigroup Inc. (NYSE:C)

Advisory Resource Group trimmed its position in Citigroup Inc. (NYSE:C) by 5.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 69,057 shares of the company’s stock after selling 3,890 shares during the period. Citigroup accounts for about 1.0% of Advisory Resource Group’s holdings, making the stock its 29th largest holding. Advisory Resource Group’s holdings in Citigroup were worth $4,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new position in shares of Citigroup during the 3rd quarter worth about $4,607,000. Brookstone Capital Management lifted its holdings in shares of Citigroup by 38.5% during the 3rd quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock worth $512,000 after acquiring an additional 2,274 shares during the period. CWM LLC lifted its holdings in shares of Citigroup by 12.3% during the 3rd quarter. CWM LLC now owns 73,901 shares of the company’s stock worth $4,626,000 after acquiring an additional 8,097 shares during the period. Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Citigroup by 1.9% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 11,454 shares of the company’s stock worth $717,000 after acquiring an additional 210 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Citigroup during the 3rd quarter worth about $479,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $81.73 on Friday. The business’s fifty day moving average price is $74.67 and its 200 day moving average price is $67.16. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.91. The stock has a market capitalization of $154.57 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 analysts’ expectations of $19.51 billion. During the same period last year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

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 paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its board has initiated a share repurchase 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 typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on C shares. Truist Financial started coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Evercore ISI increased their target price 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. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.