Beach Investment Counsel Inc. PA Has $16.67 Million Holdings in Citigroup Inc. (NYSE:C)

Beach Investment Counsel Inc. PA trimmed its position in Citigroup Inc. (NYSE:C) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,809 shares of the company’s stock after selling 7,614 shares during the quarter. Citigroup accounts for 2.3% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 15th largest position. Beach Investment Counsel Inc. PA’s holdings in Citigroup were worth $16,669,000 at the end of the most recent reporting period.

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

Citigroup Stock Up 0.2 %

Shares of Citigroup stock opened at $79.80 on Tuesday. The business has a fifty day simple moving average of $73.85 and a 200 day simple moving average of $66.73. The stock has a market cap of $150.92 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. 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 Inc. has a 12 month low of $52.24 and a 12 month high of $82.77.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. Research analysts predict that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent analyst reports. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Oppenheimer cut their price target 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Company 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.