Sonora Investment Management Group LLC Decreases Holdings in Citigroup Inc. (NYSE:C)

Sonora Investment Management Group LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,439 shares of the company’s stock after selling 383 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Citigroup were worth $242,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the 3rd quarter worth about $31,000. Northwest Investment Counselors LLC bought a new position in Citigroup in the 3rd quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the 2nd quarter valued at about $31,000. Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

NYSE C opened at $81.43 on Friday. The business’s fifty day moving average price is $73.67 and its 200-day moving average price is $66.64. The stock has a market capitalization of $154.01 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. 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 Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

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

Citigroup announced 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 shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a $0.56 dividend. 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 2.75%. Citigroup’s payout ratio is presently 37.65%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company upped their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.