Beacon Investment Advisory Services Inc. Sells 290 Shares of Citigroup Inc. (NYSE:C)

Beacon Investment Advisory Services Inc. trimmed its holdings in Citigroup Inc. (NYSE:C) by 6.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,996 shares of the company’s stock after selling 290 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Citigroup were worth $281,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Elgethun Capital Management increased its position in Citigroup by 8.3% during the second quarter. Elgethun Capital Management now owns 73,467 shares of the company’s stock valued at $4,662,000 after acquiring an additional 5,600 shares during the last quarter. MBB Public Markets I LLC grew its stake in shares of Citigroup by 2,860.0% during the 2nd quarter. MBB Public Markets I LLC now owns 133,228 shares of the company’s stock valued at $8,455,000 after purchasing an additional 128,727 shares during the period. Mackenzie Financial Corp increased its position in shares of Citigroup by 3.8% during the 2nd quarter. Mackenzie Financial Corp now owns 1,519,721 shares of the company’s stock valued at $96,441,000 after purchasing an additional 55,889 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of 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 purchasing an additional 913,231 shares during the period. Finally, Smith Thornton Advisors LLC purchased a new position in shares of Citigroup in the second quarter worth approximately $306,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $81.98 on Friday. The firm has a market cap of $155.04 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.65 and a beta of 1.43. The firm has a fifty day moving average price of $72.21 and a 200 day moving average price of $66.00. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $82.77. 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 released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. 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 firm earned $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its board has approved a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

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 paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on C shares. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target for the company. Morgan Stanley upped their price target on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.