1858 Wealth Management LLC Has $253,000 Position in Citigroup Inc. (NYSE:C)

1858 Wealth Management LLC cut its position in shares of Citigroup Inc. (NYSE:C) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,593 shares of the company’s stock after selling 199 shares during the quarter. 1858 Wealth Management LLC’s holdings in Citigroup were worth $253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in Citigroup during the third quarter worth about $31,000. Webster Bank N. A. boosted its holdings in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of 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 buying an additional 260 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 1.4 %

NYSE C opened at $78.52 on Wednesday. The stock has a market capitalization of $148.50 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $74.02 and a 200-day moving average of $66.83.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Dividend Announcement

The firm 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 $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.85%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows 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 believes its stock is undervalued.

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Oppenheimer cut their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.