Aviso Wealth Management Decreases Stock Holdings in Citigroup Inc. (NYSE:C)

Aviso Wealth Management cut its stake in Citigroup Inc. (NYSE:C) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,104 shares of the company’s stock after selling 723 shares during the period. Aviso Wealth Management’s holdings in Citigroup were worth $430,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blake Schutter Theil Wealth Advisors LLC grew its holdings in shares of Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after buying an additional 135 shares in the last quarter. Hemington Wealth Management grew its stake in Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after acquiring an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after acquiring an additional 137 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Citigroup by 2.4% during the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock worth $419,000 after purchasing an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. Evercore ISI increased their price objective 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. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.53.

Insider Buying and Selling at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of C stock opened at $74.43 on Wednesday. The firm has a fifty day moving average of $77.50 and a two-hundred day moving average of $70.53. The firm has a market cap of $140.09 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. 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, beating 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the company earned $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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.