Avaii Wealth Management LLC Trims Stake in Citigroup Inc. (NYSE:C)

Avaii Wealth Management LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,212 shares of the company’s stock after selling 128 shares during the period. Avaii Wealth Management LLC’s holdings in Citigroup were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brookstone Capital Management boosted its stake in shares of Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after buying an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. lifted its stake in shares of Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares during the period. HighTower Advisors LLC lifted its position in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after buying an additional 8,301 shares during the period. FNY Investment Advisers LLC lifted its holdings in shares of Citigroup by 168.7% during the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.7 %

Shares of NYSE C opened at $81.41 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The stock’s 50-day simple moving average is $72.47 and its 200-day simple moving average is $66.11. The firm has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43.

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

Citigroup declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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 given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research analyst reports. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley lifted their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler reissued 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.