Soltis Investment Advisors LLC Increases Stake in Citigroup Inc. (NYSE:C)

Soltis Investment Advisors LLC grew its position in Citigroup Inc. (NYSE:C) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,370 shares of the company’s stock after acquiring an additional 3,946 shares during the period. Citigroup comprises 0.8% of Soltis Investment Advisors LLC’s portfolio, making the stock its 24th largest holding. Soltis Investment Advisors LLC’s holdings in Citigroup were worth $8,191,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new stake in Citigroup during the third quarter worth $4,607,000. Brookstone Capital Management increased its position in Citigroup by 38.5% during the third quarter. Brookstone Capital Management now owns 8,178 shares of the company’s stock worth $512,000 after buying an additional 2,274 shares in the last quarter. CWM LLC raised its stake in Citigroup by 12.3% in the 3rd quarter. CWM LLC now owns 73,901 shares of the company’s stock valued at $4,626,000 after purchasing an additional 8,097 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Citigroup by 272.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,134 shares of the company’s stock valued at $885,000 after buying an additional 10,339 shares during the last quarter. Finally, Silverlake Wealth Management LLC grew its stake in Citigroup by 2.6% in the 3rd quarter. Silverlake Wealth Management LLC now owns 7,192 shares of the company’s stock worth $450,000 after acquiring an additional 179 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.7 %

NYSE:C opened at $81.73 on Monday. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $74.67 and a 200-day moving average of $67.18. The firm has a market capitalization of $154.57 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share 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 quarter in the previous year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 presently 37.65%.

Analyst Ratings Changes

A number of brokerages have issued reports on C. Bank of America raised their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Evercore ISI boosted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, 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 research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company 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.