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

Kingsview Wealth Management LLC grew its holdings in Citigroup Inc. (NYSE:C) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,946 shares of the company’s stock after purchasing an additional 760 shares during the period. Kingsview Wealth Management LLC’s holdings in Citigroup were worth $1,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of C. Apollon Wealth Management LLC grew its holdings in shares of Citigroup by 11.4% in the fourth quarter. Apollon Wealth Management LLC now owns 53,927 shares of the company’s stock worth $3,796,000 after acquiring an additional 5,534 shares during the period. MWA Asset Management grew its holdings in shares of 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 acquiring an additional 1,598 shares during the period. Vest Financial LLC grew its holdings in shares of 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 acquiring an additional 1,118 shares during the period. Conning Inc. grew its holdings in shares of 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 acquiring an additional 531 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its position in Citigroup by 11.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 3,609 shares of the company’s stock valued at $254,000 after purchasing an additional 375 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of several 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 report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus 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 current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $153.51 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.65 and a beta of 1.44. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.91. The business’s 50-day moving average is $75.05 and its 200 day moving average is $67.41.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 annualized dividend and a yield of 2.76%. Citigroup’s payout ratio is currently 37.65%.

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

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.