Prentice Wealth Management LLC Has $286,000 Position in Citigroup Inc. (NYSE:C)

Prentice Wealth Management LLC lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,060 shares of the company’s stock after selling 348 shares during the period. Prentice Wealth Management LLC’s holdings in Citigroup were worth $286,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in C. Core Alternative Capital boosted its holdings in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the third quarter valued at about $31,000. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC acquired a new stake in Citigroup during the fourth quarter worth about $35,000. Finally, GHP Investment Advisors Inc. increased its stake in Citigroup by 184.0% during the third 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. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Bank of America raised their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research 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. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Activity at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the stock in a transaction 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 directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

NYSE C opened at $79.65 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a 50 day moving average of $76.80 and a 200-day moving average of $68.48. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.66 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the firm posted $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup announced that its Board of Directors has approved a share buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.