Intelligence Driven Advisers LLC Sells 775 Shares of Citigroup Inc. (NYSE:C)

Intelligence Driven Advisers LLC cut its stake in Citigroup Inc. (NYSE:C) by 14.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,780 shares of the company’s stock after selling 775 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Citigroup were worth $336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. lifted its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Citigroup by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Citigroup by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after buying an additional 240,628 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $81.24 on Thursday. The company’s 50-day simple moving average is $75.25 and its two-hundred day simple moving average is $67.51. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.91. The stock has a market capitalization of $153.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.65 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last posted its earnings results 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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. Citigroup’s revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Announces Dividend

The company also recently announced 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 2.76%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective 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. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley raised their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Evercore ISI increased their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.