Dynamic Advisor Solutions LLC Sells 5,392 Shares of Citigroup Inc. (NYSE:C)

Dynamic Advisor Solutions LLC cut its holdings in Citigroup Inc. (NYSE:C) by 50.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,352 shares of the company’s stock after selling 5,392 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Citigroup were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of C. Brookstone Capital Management lifted its stake in shares of Citigroup by 340.6% during the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. lifted its position in shares of Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after purchasing an additional 8,301 shares during the period. FNY Investment Advisers LLC grew its holdings in shares of Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,280 shares during the last quarter. Finally, KBC Group NV increased its stake in Citigroup by 1.8% in the 3rd quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after buying an additional 20,291 shares during the period. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

C has been the subject of several research reports. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Bank of America raised their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

NYSE C opened at $81.07 on Tuesday. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The firm’s fifty day simple moving average is $72.71 and its two-hundred day simple moving average is $66.21. 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 firm has a market capitalization of $153.33 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup Announces Dividend

The business 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. This represents a $2.24 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

About Citigroup

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.