CFS Investment Advisory Services LLC Sells 525 Shares of Citigroup Inc. (NYSE:C)

CFS Investment Advisory Services LLC lowered its holdings in Citigroup Inc. (NYSE:C) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,402 shares of the company’s stock after selling 525 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Citigroup were worth $1,366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the second quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the 3rd quarter worth approximately $31,000. GHP Investment Advisors Inc. increased its holdings in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.7 %

Shares of NYSE:C opened at $81.41 on Friday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The firm’s 50 day moving average price is $72.47 and its 200 day moving average price is $66.11. The stock has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. As a group, equities research analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has authorized a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

C has been the topic of a number of research reports. Wells Fargo & Company raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, 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. Four equities research 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, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

About Citigroup

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.