Schear Investment Advisers LLC Has $2.37 Million Position in Citigroup Inc. (NYSE:C)

Schear Investment Advisers LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 7.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 33,607 shares of the company’s stock after purchasing an additional 2,389 shares during the period. Citigroup comprises approximately 1.3% of Schear Investment Advisers LLC’s holdings, making the stock its 20th largest holding. Schear Investment Advisers LLC’s holdings in Citigroup were worth $2,366,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of C. Leavell Investment Management Inc. bought a new position in shares of Citigroup in the fourth quarter valued at $256,000. Core Alternative Capital lifted its stake in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the last quarter. Carnegie Lake Advisors LLC grew its position in shares of Citigroup by 26.4% in the 4th quarter. Carnegie Lake Advisors LLC now owns 9,777 shares of the company’s stock valued at $688,000 after acquiring an additional 2,045 shares during the period. Essex Financial Services Inc. increased its stake in shares of Citigroup by 1.9% during the 4th quarter. Essex Financial Services Inc. now owns 17,883 shares of the company’s stock worth $1,259,000 after purchasing an additional 331 shares during the last quarter. Finally, Focus Financial Network Inc. increased its stake in shares of Citigroup by 74.6% during the 4th quarter. Focus Financial Network Inc. now owns 10,621 shares of the company’s stock worth $748,000 after purchasing an additional 4,539 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 0.5 %

NYSE C opened at $81.17 on Wednesday. The business has a fifty day moving average price of $75.05 and a two-hundred day moving average price of $67.41. The stock has a market capitalization of $153.51 billion, a PE ratio of 13.64, a PEG ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.91. 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 (NYSE:C) last announced its quarterly earnings data 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has authorized 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.76%. Citigroup’s payout ratio is presently 37.65%.

Analyst Ratings Changes

A number of equities analysts recently commented on C shares. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial began 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 upped their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.