Fifth Third Wealth Advisors LLC Sells 138 Shares of Citigroup Inc. (NYSE:C)

Fifth Third Wealth Advisors LLC decreased its holdings in Citigroup Inc. (NYSE:C) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 20,257 shares of the company’s stock after selling 138 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Citigroup were worth $1,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peoples Financial Services CORP. raised its holdings in Citigroup by 15.4% during the 4th quarter. Peoples Financial Services CORP. now owns 1,502 shares of the company’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Pines Wealth Management LLC bought a new position in shares of Citigroup in the 4th quarter worth about $413,000. SeaCrest Wealth Management LLC lifted its stake in shares of Citigroup by 1.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 12,661 shares of the company’s stock valued at $891,000 after purchasing an additional 203 shares during the period. Accurate Wealth Management LLC grew its stake in Citigroup by 6.7% during the fourth quarter. Accurate Wealth Management LLC now owns 17,395 shares of the company’s stock worth $1,242,000 after purchasing an additional 1,093 shares during the period. Finally, Ignite Planners LLC increased its holdings in Citigroup by 3.1% in the fourth quarter. Ignite Planners LLC now owns 16,620 shares of the company’s stock worth $1,180,000 after purchasing an additional 507 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

C has been the topic of a number of research analyst reports. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Bank of America upped their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Piper Sandler boosted their target price on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.13.

Citigroup Price Performance

Shares of NYSE:C opened at $78.48 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The stock has a market cap of $148.43 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The stock’s fifty day simple moving average is $70.60 and its two-hundred day simple moving average is $65.22. Citigroup Inc. has a 1-year low of $50.51 and a 1-year high of $79.25.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm 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 $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.85%. Citigroup’s payout ratio is presently 64.93%.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.