Integrated Investment Consultants LLC Reduces Stock Position in Citigroup Inc. (NYSE:C)

Integrated Investment Consultants LLC lowered its stake in Citigroup Inc. (NYSE:C) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,992 shares of the company’s stock after selling 262 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Citigroup were worth $422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors boosted its holdings in Citigroup by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 29,023 shares of the company’s stock worth $2,043,000 after purchasing an additional 1,368 shares during the last quarter. InTrack Investment Management Inc raised its position in Citigroup by 28.9% in the fourth quarter. InTrack Investment Management Inc now owns 19,412 shares of the company’s stock worth $1,427,000 after acquiring an additional 4,347 shares during the period. Shikiar Asset Management Inc. raised its position in Citigroup by 6.0% in the fourth quarter. Shikiar Asset Management Inc. now owns 13,188 shares of the company’s stock worth $928,000 after acquiring an additional 750 shares during the period. TrueWealth Advisors LLC raised its position in Citigroup by 7.9% in the fourth quarter. TrueWealth Advisors LLC now owns 5,985 shares of the company’s stock worth $421,000 after acquiring an additional 437 shares during the period. Finally, Brooklyn Investment Group raised its position in Citigroup by 7.5% in the fourth quarter. Brooklyn Investment Group now owns 6,310 shares of the company’s stock worth $444,000 after acquiring an additional 439 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on C shares. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Evercore ISI raised their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. Four 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, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

C stock opened at $80.05 on Friday. Citigroup Inc. has a 12 month low of $50.51 and a 12 month high of $80.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average price of $71.22 and a 200 day moving average price of $65.52. The stock has a market cap of $151.40 billion, a PE ratio of 23.20, a P/E/G ratio of 0.59 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the business posted $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. Citigroup’s payout ratio is 64.93%.

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.