Capital Asset Advisory Services LLC Buys 730 Shares of Citigroup Inc. (NYSE:C)

Capital Asset Advisory Services LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 47,043 shares of the company’s stock after purchasing an additional 730 shares during the period. Capital Asset Advisory Services LLC’s holdings in Citigroup were worth $3,340,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of C. Kathmere Capital Management LLC boosted its stake in shares of Citigroup by 3.9% in the second quarter. Kathmere Capital Management LLC now owns 9,352 shares of the company’s stock worth $593,000 after acquiring an additional 347 shares during the period. Ascent Group LLC boosted its stake in shares of Citigroup by 5.5% in the second quarter. Ascent Group LLC now owns 35,559 shares of the company’s stock worth $2,257,000 after acquiring an additional 1,855 shares during the period. Creative Planning boosted its stake in shares of Citigroup by 2.9% in the second quarter. Creative Planning now owns 378,990 shares of the company’s stock worth $24,051,000 after acquiring an additional 10,518 shares during the period. Magnolia Capital Advisors LLC bought a new position in shares of Citigroup in the second quarter worth about $3,031,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Citigroup by 58.4% in the second quarter. NewEdge Advisors LLC now owns 127,121 shares of the company’s stock worth $8,067,000 after acquiring an additional 46,890 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays raised 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 research note on Monday, January 6th. Evercore ISI boosted their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted 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. Finally, Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Shares of C stock opened at $81.41 on Monday. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43. The stock has a 50 day moving average price of $72.47 and a 200 day moving average price of $66.10.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company earned $0.84 EPS. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has approved a stock repurchase 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.