Adero Partners LLC Acquires New Holdings in Citigroup Inc. (NYSE:C)

Adero Partners LLC purchased a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,617 shares of the company’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC grew its holdings in Citigroup by 5.1% in the fourth quarter. Bleakley Financial Group LLC now owns 20,385 shares of the company’s stock worth $1,435,000 after purchasing an additional 990 shares during the last quarter. YANKCOM Partnership purchased a new position in Citigroup in the fourth quarter worth $2,112,000. Robertson Stephens Wealth Management LLC grew its holdings in Citigroup by 0.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock worth $2,746,000 after purchasing an additional 150 shares during the last quarter. Confluence Wealth Services Inc. lifted its stake in shares of Citigroup by 19.6% during the fourth quarter. Confluence Wealth Services Inc. now owns 5,051 shares of the company’s stock worth $356,000 after buying an additional 828 shares during the period. Finally, Massachusetts Wealth Management lifted its stake in shares of Citigroup by 6.3% during the fourth quarter. Massachusetts Wealth Management now owns 43,507 shares of the company’s stock worth $3,062,000 after buying an additional 2,575 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on C shares. Morgan Stanley lifted their price objective on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Oppenheimer lowered their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Evercore ISI lifted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Trading Up 3.8 %

Shares of Citigroup stock opened at $82.45 on Friday. The firm has a 50-day simple moving average of $74.45 and a two-hundred day simple moving average of $67.02. The company has a market cap of $155.94 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. 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 issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share 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 net margin of 7.43% and a return on equity of 6.62%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.72%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

About Citigroup

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.