Diversify Wealth Management LLC Raises Stock Position in Citigroup Inc. (NYSE:C)

Diversify Wealth Management LLC grew its holdings in Citigroup Inc. (NYSE:C) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,553 shares of the company’s stock after purchasing an additional 291 shares during the period. Diversify Wealth Management LLC’s holdings in Citigroup were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brookstone Capital Management boosted its stake in shares of Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares during the period. Inspire Trust Co. N.A. raised its position in shares of Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after acquiring an additional 20,000 shares in the last quarter. HighTower Advisors LLC raised its holdings in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. Finally, KBC Group NV lifted its stake in Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after buying an additional 20,291 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on C shares. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Bank of America upped their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

C stock opened at $80.05 on Tuesday. The firm has a market cap of $151.40 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $80.45. The stock has a 50-day simple moving average of $71.22 and a 200-day simple moving average of $65.54. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last posted its quarterly earnings data 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 4.70% and a return on equity of 6.19%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup declared that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.