Dakota Wealth Management Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

Dakota Wealth Management decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,417 shares of the company’s stock after selling 3,042 shares during the quarter. Dakota Wealth Management’s holdings in Citigroup were worth $1,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup in the second quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup in the third quarter worth approximately $31,000. GHP Investment Advisors Inc. boosted its stake in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $81.98 on Friday. 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 $155.04 billion, a PE ratio of 13.78, a P/E/G ratio of 0.65 and a beta of 1.43. The business has a 50 day moving average of $72.21 and a 200 day moving average of $66.00. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77.

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. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

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

Citigroup Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on C. Wells Fargo & Company upped their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Oppenheimer dropped their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average 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.