SeaCrest Wealth Management LLC Acquires 203 Shares of Citigroup Inc. (NYSE:C)

SeaCrest Wealth Management LLC boosted its holdings in Citigroup Inc. (NYSE:C) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,661 shares of the company’s stock after buying an additional 203 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Citigroup were worth $891,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Citigroup during the 3rd quarter worth approximately $31,000. Northwest Investment Counselors LLC bought a new position in Citigroup during the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup during the 2nd quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $78.48 on Thursday. The company has a fifty day simple moving average of $70.60 and a 200 day simple moving average of $65.22. Citigroup Inc. has a 12-month low of $50.51 and a 12-month high of $79.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market cap of $148.43 billion, a P/E ratio of 22.75, a PEG ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Sell-side analysts predict that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is 64.93%.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Piper Sandler raised their price target on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Evercore ISI raised their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley reduced their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.