Kingsview Wealth Management LLC Acquires 760 Shares of Citigroup Inc. (NYSE:C)

Kingsview Wealth Management LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,946 shares of the company’s stock after buying an additional 760 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Citigroup were worth $1,193,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Apollon Wealth Management LLC grew its stake in shares of Citigroup by 11.4% during the fourth quarter. Apollon Wealth Management LLC now owns 53,927 shares of the company’s stock valued at $3,796,000 after buying an additional 5,534 shares during the last quarter. MWA Asset Management grew its stake in Citigroup by 12.7% in the fourth quarter. MWA Asset Management now owns 14,183 shares of the company’s stock worth $998,000 after purchasing an additional 1,598 shares in the last quarter. Vest Financial LLC grew its stake in Citigroup by 14.3% in the fourth quarter. Vest Financial LLC now owns 8,923 shares of the company’s stock worth $628,000 after purchasing an additional 1,118 shares in the last quarter. Conning Inc. grew its stake in Citigroup by 3.7% in the fourth quarter. Conning Inc. now owns 14,881 shares of the company’s stock worth $1,047,000 after purchasing an additional 531 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its stake in Citigroup by 11.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 3,609 shares of the company’s stock worth $254,000 after purchasing an additional 375 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on C. Keefe, Bruyette & Woods increased their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Bank of America upped their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

NYSE C opened at $81.17 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $75.05 and its 200 day moving average price is $67.41. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.91. The company has a market cap of $153.51 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm earned $0.84 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 2.76%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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.