Citigroup Inc. (NYSE:C) Stake Lowered by BKM Wealth Management LLC

BKM Wealth Management LLC reduced its stake in shares of Citigroup Inc. (NYSE:C) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,878 shares of the company’s stock after selling 187 shares during the period. BKM Wealth Management LLC’s holdings in Citigroup were worth $906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of C. AMF Tjanstepension AB acquired a new stake in shares of Citigroup in the 3rd quarter valued at $4,607,000. Creative Planning lifted its stake in shares of Citigroup by 0.6% in the 3rd quarter. Creative Planning now owns 381,362 shares of the company’s stock valued at $23,873,000 after purchasing an additional 2,372 shares during the last quarter. Swedbank AB lifted its stake in shares of Citigroup by 1.3% in the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Citigroup by 86.9% in the 3rd quarter. Blue Trust Inc. now owns 13,600 shares of the company’s stock valued at $863,000 after purchasing an additional 6,325 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Citigroup by 4.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,418 shares of the company’s stock valued at $339,000 after purchasing an additional 246 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $84.62 on Tuesday. The company has a market cap of $160.04 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.65 and a beta of 1.44. The firm’s 50-day moving average is $75.95 and its 200-day moving average is $67.93. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.65%. 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 permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

C has been the subject of several analyst reports. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Four investment 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 has an average rating of “Moderate Buy” and an average price target 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.