PFG Investments LLC Sells 396 Shares of Citigroup Inc. (NYSE:C)

PFG Investments LLC cut its position in Citigroup Inc. (NYSE:C) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,508 shares of the company’s stock after selling 396 shares during the quarter. PFG Investments LLC’s holdings in Citigroup were worth $1,796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in C. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup in the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup during the 2nd quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter valued at $31,000. GHP Investment Advisors Inc. lifted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $81.07 on Tuesday. The business has a 50 day moving average of $72.71 and a 200-day moving average of $66.21. 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 Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. The company has a market capitalization of $153.33 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared 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 of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.76%. Citigroup’s payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on C shares. Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Wells Fargo & Company boosted their target price 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. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. 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 price objective for the company. Finally, The Goldman Sachs Group raised their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Citigroup currently has an average 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.