Beacon Investment Advisory Services Inc. Decreases Stock Position in Citigroup Inc. (NYSE:C)

Beacon Investment Advisory Services Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the third quarter valued at about $31,000. Northwest Investment Counselors LLC purchased a new position in Citigroup during the 3rd quarter valued at about $28,000. Strategic Investment Solutions Inc. IL bought a new position in Citigroup during the 2nd quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its position in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Citigroup in the 4th quarter worth approximately $44,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on C. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Finally, Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Performance

Citigroup stock opened at $81.98 on Friday. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77. 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 capitalization of $155.04 billion, a P/E ratio of 13.78, a PEG ratio of 0.65 and a beta of 1.43. The stock’s 50 day moving average is $72.21 and its 200 day moving average is $66.00.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion for 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 company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post 7.51 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 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 yield of 2.73%. Citigroup’s dividend payout ratio is currently 37.65%.

Citigroup announced that its board has approved a share buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.