Pines Wealth Management LLC Invests $413,000 in Citigroup Inc. (NYSE:C)

Pines Wealth Management LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,785 shares of the company’s stock, valued at approximately $413,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Citigroup by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock valued at $21,538,000 after buying an additional 7,778 shares in the last quarter. Wealthspire Advisors LLC raised its position in Citigroup by 13.0% during the second quarter. Wealthspire Advisors LLC now owns 3,977 shares of the company’s stock valued at $252,000 after purchasing an additional 457 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Citigroup by 116.9% during the second quarter. Brown Brothers Harriman & Co. now owns 10,622 shares of the company’s stock worth $674,000 after purchasing an additional 5,724 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Citigroup by 36.3% during the second quarter. Citizens Financial Group Inc. RI now owns 11,759 shares of the company’s stock worth $746,000 after purchasing an additional 3,131 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in shares of Citigroup by 17.1% in the 2nd quarter. Moors & Cabot Inc. now owns 17,347 shares of the company’s stock worth $1,101,000 after purchasing an additional 2,539 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $78.48 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $148.43 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The stock’s 50 day moving average price is $70.60 and its 200-day moving average price is $65.22. Citigroup Inc. has a 52-week low of $50.51 and a 52-week high of $79.25.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the firm earned $0.84 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.85%. Citigroup’s payout ratio is 64.93%.

Citigroup declared that its board has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to reacquire 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.

Analyst Upgrades and Downgrades

C has been the subject of a number of recent research reports. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI increased their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $80.13.

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.