KMG Fiduciary Partners LLC Reduces Holdings in Citigroup Inc. (NYSE:C)

KMG Fiduciary Partners LLC decreased its holdings in Citigroup Inc. (NYSE:C) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,372 shares of the company’s stock after selling 430 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Citigroup were worth $2,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brookstone Capital Management lifted its holdings in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. lifted its holdings in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after purchasing an additional 8,301 shares in the last quarter. KBC Group NV lifted its holdings in Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after purchasing an additional 20,291 shares in the last quarter. Finally, TCW Group Inc. lifted its holdings in Citigroup by 8.6% during the third quarter. TCW Group Inc. now owns 338,816 shares of the company’s stock valued at $21,210,000 after purchasing an additional 26,882 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Evercore ISI boosted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday. Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Trading Up 0.3 %

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

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, analysts anticipate that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently announced 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.