MONECO Advisors LLC Raises Position in Citigroup Inc. (NYSE:C)

MONECO Advisors LLC boosted its position in Citigroup Inc. (NYSE:C) by 14.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,544 shares of the company’s stock after purchasing an additional 848 shares during the period. MONECO Advisors LLC’s holdings in Citigroup were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pavion Blue Capital LLC bought a new stake in shares of Citigroup in the fourth quarter valued at $206,000. Howard Capital Management Inc. grew its stake in shares of Citigroup by 1.8% during the 4th quarter. Howard Capital Management Inc. now owns 90,951 shares of the company’s stock worth $6,402,000 after acquiring an additional 1,591 shares during the period. First Horizon Advisors Inc. increased its holdings in Citigroup by 1.1% in the 4th quarter. First Horizon Advisors Inc. now owns 326,040 shares of the company’s stock worth $22,950,000 after acquiring an additional 3,411 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Citigroup by 1,499.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 3,118 shares of the company’s stock valued at $218,000 after acquiring an additional 2,923 shares during the period. Finally, Callan Capital LLC lifted its holdings in Citigroup by 11.7% during the fourth quarter. Callan Capital LLC now owns 6,245 shares of the company’s stock valued at $440,000 after purchasing an additional 655 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Down 1.5 %

NYSE C opened at $78.49 on Tuesday. The stock’s 50-day simple moving average is $76.94 and its two-hundred day simple moving average is $68.80. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $148.44 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 company 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 EPS. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 7.53 EPS 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 given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Insiders Place Their Bets

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. 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 three months. Insiders own 0.08% of the company’s stock.

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.