Citigroup Inc. (NYSE:C) Stock Position Reduced by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 2.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,800 shares of the company’s stock after selling 3,400 shares during the period. Hennessy Advisors Inc.’s holdings in Citigroup were worth $8,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Goldstone Financial Group LLC grew its position in Citigroup by 28.3% in the fourth quarter. Goldstone Financial Group LLC now owns 8,161 shares of the company’s stock worth $574,000 after acquiring an additional 1,798 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Citigroup in the fourth quarter worth approximately $44,000. Congress Park Capital LLC bought a new stake in Citigroup in the fourth quarter worth approximately $442,000. Ritholtz Wealth Management grew its position in Citigroup by 13.0% in the fourth quarter. Ritholtz Wealth Management now owns 70,067 shares of the company’s stock worth $4,932,000 after acquiring an additional 8,083 shares in the last quarter. Finally, Mirador Capital Partners LP grew its position in Citigroup by 11.2% in the fourth quarter. Mirador Capital Partners LP now owns 28,679 shares of the company’s stock worth $2,019,000 after acquiring an additional 2,880 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.3 %

Shares of Citigroup stock opened at $78.51 on Friday. The firm has a market capitalization of $148.47 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average price is $70.99 and its two-hundred day moving average price is $65.41. Citigroup Inc. has a 52-week low of $50.51 and a 52-week high of $79.25.

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

Citigroup announced that its board has authorized a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on C shares. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. 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 research note on Friday, January 3rd. 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 research note on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday. 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 MarketBeat, the company 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.