Wealth Management Partners LLC Has $315,000 Holdings in Citigroup Inc. (NYSE:C)

Wealth Management Partners LLC decreased its holdings in Citigroup Inc. (NYSE:C) by 35.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,469 shares of the company’s stock after selling 2,465 shares during the period. Wealth Management Partners LLC’s holdings in Citigroup were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in C. Mechanics Bank Trust Department purchased a new stake in shares of Citigroup during the fourth quarter worth $216,000. Diversify Advisory Services LLC raised its stake in shares of Citigroup by 1.9% during the 4th quarter. Diversify Advisory Services LLC now owns 12,225 shares of the company’s stock worth $873,000 after purchasing an additional 225 shares in the last quarter. Diversify Wealth Management LLC lifted its holdings in shares of Citigroup by 2.2% during the 4th quarter. Diversify Wealth Management LLC now owns 13,553 shares of the company’s stock valued at $968,000 after buying an additional 291 shares during the last quarter. Successful Portfolios LLC bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $209,000. Finally, Grove Bank & Trust grew its stake in shares of Citigroup by 17.0% in the 4th quarter. Grove Bank & Trust now owns 3,000 shares of the company’s stock valued at $211,000 after buying an additional 436 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

C has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday. Truist Financial initiated coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday. Finally, Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Trading Up 2.0 %

Shares of C stock opened at $80.05 on Monday. The firm has a market capitalization of $151.40 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $80.45. The firm’s fifty day simple moving average is $71.22 and its 200 day simple moving average is $65.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company 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 firm posted $0.84 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 5.88 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared 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. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio is 64.93%.

Citigroup declared that its board has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup 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.