Journey Strategic Wealth LLC Lowers Holdings in Citigroup Inc. (NYSE:C)

Journey Strategic Wealth LLC lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,040 shares of the company’s stock after selling 1,108 shares during the period. Journey Strategic Wealth LLC’s holdings in Citigroup were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in C. SYM FINANCIAL Corp boosted its holdings in shares of Citigroup by 16.2% during the 4th quarter. SYM FINANCIAL Corp now owns 7,143 shares of the company’s stock valued at $503,000 after purchasing an additional 994 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Citigroup by 0.3% during the fourth quarter. DAVENPORT & Co LLC now owns 1,093,659 shares of the company’s stock valued at $76,979,000 after buying an additional 3,369 shares during the last quarter. Tritonpoint Wealth LLC purchased a new position in Citigroup during the 4th quarter valued at approximately $205,000. Yoder Wealth Management Inc. bought a new stake in Citigroup in the 4th quarter worth approximately $217,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Citigroup by 3.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 54,584 shares of the company’s stock worth $3,842,000 after acquiring an additional 1,817 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Piper Sandler restated 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. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company upped 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. Finally, The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Four 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Down 0.5 %

Shares of NYSE C opened at $81.43 on Monday. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77. The firm has a market capitalization of $154.01 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. The stock has a 50 day moving average price of $73.67 and a 200 day moving average price of $66.63. 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 (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The business 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%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Sell-side analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its board has initiated a share 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 purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.