Citigroup Inc. (NYSE:C) Holdings Lowered by RMR Wealth Builders

RMR Wealth Builders cut its stake in Citigroup Inc. (NYSE:C) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,432 shares of the company’s stock after selling 160 shares during the period. RMR Wealth Builders’ holdings in Citigroup were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares during the period. Franklin Resources Inc. grew its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC increased its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the period. Legal & General Group Plc lifted its position in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after buying an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its stake in shares of Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

C stock traded down $1.83 during midday trading on Friday, reaching $71.43. 12,919,683 shares of the company’s stock traded hands, compared to its average volume of 14,157,054. 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 Inc. has a 52-week low of $50.51 and a 52-week high of $74.29. The stock has a market cap of $135.09 billion, a P/E ratio of 20.70, a PEG ratio of 0.80 and a beta of 1.43. The stock’s 50-day moving average is $70.03 and its 200 day moving average is $64.95.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. As a group, analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on C. Truist Financial started coverage on shares of Citigroup in a report on Tuesday. They set a “buy” rating and a $85.00 price target for the company. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Evercore ISI lifted their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.13.

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.