Asset Dedication LLC Has $852,000 Holdings in Citigroup Inc. (NYSE:C)

Asset Dedication LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,100 shares of the company’s stock after selling 480 shares during the period. Asset Dedication LLC’s holdings in Citigroup were worth $852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in Citigroup by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 125,696 shares of the company’s stock valued at $7,977,000 after purchasing an additional 3,004 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Citigroup by 23.6% during the second quarter. EP Wealth Advisors LLC now owns 17,342 shares of the company’s stock valued at $1,101,000 after buying an additional 3,313 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Citigroup during the second quarter valued at about $406,000. Dana Investment Advisors Inc. lifted its stake in shares of Citigroup by 1.5% in the second quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock valued at $1,331,000 after buying an additional 312 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Citigroup by 99.2% during the second quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock valued at $2,893,000 after acquiring an additional 22,706 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on C shares. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Morgan Stanley raised their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial initiated 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. Evercore ISI raised their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Citigroup stock opened at $80.66 on Thursday. The business’s fifty day moving average is $73.18 and its two-hundred day moving average is $66.42. 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 firm has a market cap of $152.54 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.78%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Citigroup

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.