Kingswood Wealth Advisors LLC Lowers Position in Citigroup Inc. (NYSE:C)

Kingswood Wealth Advisors LLC cut its holdings in Citigroup Inc. (NYSE:C) by 63.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,240 shares of the company’s stock after selling 19,654 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Citigroup were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup during the third quarter valued at about $31,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup during the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the second quarter valued at about $31,000. GHP Investment Advisors Inc. lifted its position 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 during the last quarter. Finally, Berbice Capital Management LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at about $42,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on C. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Oppenheimer cut their price objective 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. Morgan Stanley upped their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Price Performance

Shares of NYSE:C opened at $79.97 on Wednesday. The company has a market cap of $151.24 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. The company’s 50 day moving average is $72.93 and its 200 day moving average is $66.32. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping 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 7.43% and a return on equity of 6.62%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.80%. Citigroup’s payout ratio is 37.65%.

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.