SeaCrest Wealth Management LLC Acquires 203 Shares of Citigroup Inc. (NYSE:C)

SeaCrest Wealth Management LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,661 shares of the company’s stock after purchasing an additional 203 shares during the period. SeaCrest Wealth Management LLC’s holdings in Citigroup were worth $891,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after acquiring an additional 791,758 shares during the period. Franklin Resources Inc. raised its stake in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Fisher Asset Management LLC raised its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after acquiring an additional 911,694 shares during the period. Legal & General Group Plc raised its stake in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. raised its stake in Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 6.8 %

Shares of C opened at $78.48 on Thursday. The firm has a market cap of $148.43 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.80 and a beta of 1.43. The stock has a 50 day simple moving average of $70.60 and a two-hundred day simple moving average of $65.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $79.25.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.85%. Citigroup’s dividend payout ratio is presently 64.93%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on C shares. The Goldman Sachs Group upped their price target on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods upped their price target on Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Truist Financial started 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. Piper Sandler upped their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

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.