Keudell Morrison Wealth Management Acquires 209 Shares of Citigroup Inc. (NYSE:C)

Keudell Morrison Wealth Management increased its stake in Citigroup Inc. (NYSE:C) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,462 shares of the company’s stock after buying an additional 209 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Citigroup were worth $314,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 buying an additional 3,004 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Citigroup by 23.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 17,342 shares of the company’s stock valued at $1,101,000 after acquiring an additional 3,313 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Citigroup by 1.5% during the second quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock valued at $1,331,000 after purchasing an additional 312 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Citigroup by 99.2% in the second quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock worth $2,893,000 after purchasing an additional 22,706 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $81.88 on Friday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The firm’s fifty day moving average price is $73.44 and its 200-day moving average price is $66.53. The stock has a market cap of $154.86 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, equities research analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in 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 research note on Friday, January 3rd. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Truist Financial began coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.