Sound Income Strategies LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Sound Income Strategies LLC increased its stake in shares of Citigroup Inc. (NYSE:C) by 8.7% in the fourth quarter, HoldingsChannel reports. The firm owned 351,406 shares of the company’s stock after buying an additional 28,053 shares during the quarter. Citigroup makes up approximately 1.5% of Sound Income Strategies LLC’s holdings, making the stock its 16th biggest holding. Sound Income Strategies LLC’s holdings in Citigroup were worth $24,735,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. 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. Lifestyle Asset Management Inc. boosted its stake in Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after buying an additional 160 shares during the last quarter. Grove Bank & Trust grew its holdings in Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the period. MWA Asset Management increased its stake in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after acquiring an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC lifted its holdings in shares of Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Finally, Bank of America lifted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Trading Up 0.4 %

NYSE C opened at $81.98 on Friday. The stock has a market cap of $155.04 billion, a P/E ratio of 13.78, a PEG ratio of 0.65 and a beta of 1.43. The company’s fifty day simple moving average is $72.21 and its 200-day simple moving average is $66.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Equities research analysts predict that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. 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 2.73%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are 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.