Avidian Wealth Enterprises LLC Acquires 436 Shares of Citigroup Inc. (NYSE:C)

Avidian Wealth Enterprises LLC grew its position in shares of Citigroup Inc. (NYSE:C) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,585 shares of the company’s stock after buying an additional 436 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Citigroup were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in C. AMF Tjanstepension AB purchased a new position in shares of Citigroup during the 3rd quarter worth $4,607,000. Creative Planning boosted its stake in shares of Citigroup by 0.6% during the 3rd quarter. Creative Planning now owns 381,362 shares of the company’s stock worth $23,873,000 after acquiring an additional 2,372 shares during the last quarter. Swedbank AB boosted its stake in shares of Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after acquiring an additional 54,782 shares during the last quarter. Tsfg LLC boosted its stake in shares of Citigroup by 26.3% during the 3rd quarter. Tsfg LLC now owns 1,047 shares of the company’s stock worth $66,000 after acquiring an additional 218 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of Citigroup by 2.4% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 29,244 shares of the company’s stock worth $1,831,000 after acquiring an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $82.06 on Friday. The company’s 50-day moving average price is $75.44 and its 200-day moving average price is $67.61. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $82.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $155.19 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

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

Citigroup declared that its board has approved a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.73%. Citigroup’s dividend payout ratio is presently 37.65%.

Analyst Ratings Changes

Several brokerages have recently weighed in on C. Wells Fargo & Company lifted their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.