Alterna Wealth Management Inc. Sells 5,345 Shares of Citigroup Inc. (NYSE:C)

Alterna Wealth Management Inc. trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 61.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,345 shares of the company’s stock after selling 5,345 shares during the quarter. Alterna Wealth Management Inc.’s holdings in Citigroup were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. Geode Capital Management LLC grew its holdings in Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after acquiring an additional 791,758 shares during the period. Franklin Resources Inc. grew its stake in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Fisher Asset Management LLC increased its holdings in Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after purchasing an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Citigroup by 9.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after buying an additional 1,404,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Citigroup by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after buying an additional 240,628 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C opened at $81.43 on Monday. 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 stock has a market cap of $154.01 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The stock’s fifty day simple moving average is $73.67 and its two-hundred day simple moving average is $66.63. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

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 net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the firm earned $0.84 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its board has approved a share buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on C. The Goldman Sachs Group lifted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four 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, the stock presently has an average rating of “Moderate Buy” and a consensus 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.