Citigroup Inc. (NYSE:C) Stock Position Decreased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 3.8% during the fourth quarter, Holdings Channel reports. The firm owned 10,583 shares of the company’s stock after selling 414 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Citigroup were worth $745,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Citigroup in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup in the second quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter worth $31,000. GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Citigroup by 69.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 2.0 %

Shares of C stock opened at $80.05 on Friday. The company has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50 day simple moving average is $71.22 and its 200 day simple moving average is $65.52. Citigroup Inc. has a twelve month low of $50.51 and a twelve month high of $80.45.

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

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

C has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI increased their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.