Modern Wealth Management LLC Has $1.93 Million Stake in Citigroup Inc. (NYSE:C)

Modern Wealth Management LLC increased its stake in Citigroup Inc. (NYSE:C) by 90.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,396 shares of the company’s stock after purchasing an additional 13,012 shares during the period. Modern Wealth Management LLC’s holdings in Citigroup were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in C. Blake Schutter Theil Wealth Advisors LLC lifted its position in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after buying an additional 135 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after acquiring an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares in the last quarter. Rakuten Securities Inc. grew its holdings in shares of Citigroup by 2.4% during the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after purchasing an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on C. The Goldman Sachs Group cut their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley cut their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Evercore ISI upped their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $83.53.

Citigroup Trading Up 0.5 %

C opened at $74.43 on Wednesday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a fifty day moving average of $77.50 and a 200-day moving average of $70.53. The stock has a market cap of $140.09 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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 (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion during 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%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by company insiders.

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.