Sendero Wealth Management LLC Buys New Position in Citigroup Inc. (NYSE:C)

Sendero Wealth Management LLC purchased a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,997 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. raised its position in shares of Citigroup by 18.8% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,316 shares of the company’s stock valued at $93,000 after buying an additional 208 shares during the last quarter. Advisors Management Group Inc. ADV grew its position in Citigroup by 1.9% during the fourth quarter. Advisors Management Group Inc. ADV now owns 30,552 shares of the company’s stock worth $2,151,000 after buying an additional 570 shares in the last quarter. Apella Capital LLC bought a new position in Citigroup during the fourth quarter valued at about $229,000. Park Avenue Securities LLC raised its holdings in Citigroup by 12.9% in the 4th quarter. Park Avenue Securities LLC now owns 65,883 shares of the company’s stock valued at $4,637,000 after acquiring an additional 7,514 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Citigroup by 10.0% in the 4th quarter. Kathmere Capital Management LLC now owns 10,809 shares of the company’s stock worth $761,000 after acquiring an additional 987 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on C shares. Evercore ISI boosted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Oppenheimer reduced their price objective 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. The Goldman Sachs Group lifted their target price on shares of Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley dropped their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Stock Performance

NYSE:C opened at $78.48 on Thursday. The stock has a market capitalization of $148.43 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $79.25. The firm has a 50 day moving average of $70.60 and a 200-day moving average of $65.22. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

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 the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

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.