Inlet Private Wealth LLC Sells 1,550 Shares of Citigroup Inc. (NYSE:C)

Inlet Private Wealth LLC trimmed its position in Citigroup Inc. (NYSE:C) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,830 shares of the company’s stock after selling 1,550 shares during the period. Citigroup accounts for 1.9% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 11th biggest position. Inlet Private Wealth LLC’s holdings in Citigroup were worth $7,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in C. Northwest Investment Counselors LLC bought a new position in shares of Citigroup in the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in Citigroup during the third quarter worth about $31,000. Webster Bank N. A. boosted its holdings in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its position in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.5 %

C stock opened at $81.43 on Friday. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. The company has a market capitalization of $154.01 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business’s 50 day moving average price is $73.67 and its two-hundred day moving average price is $66.64. 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 quarterly earnings data 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm 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 $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analysts Set New Price Targets

Several analysts have issued reports on C shares. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Bank of America boosted their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Barclays upgraded 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. Four research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.