Alterna Wealth Management Inc. Has $235,000 Holdings in Citigroup Inc. (NYSE:C)

Alterna Wealth Management Inc. decreased its holdings in Citigroup Inc. (NYSE:C) by 61.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,345 shares of the company’s stock after selling 5,345 shares during the period. Alterna Wealth Management Inc.’s holdings in Citigroup were worth $235,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares during the period. Lifestyle Asset Management Inc. increased its stake in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares during the period. Grove Bank & Trust lifted its holdings in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the last quarter. MWA Asset Management boosted its stake in Citigroup by 1.4% in the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the period. Finally, Bridge Creek Capital Management LLC grew its holdings in Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after buying an additional 175 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 0.5 %

C opened at $81.43 on Monday. The company has a market cap of $154.01 billion, a P/E ratio of 13.69, a PEG ratio of 0.64 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $73.67 and its 200-day moving average is $66.63. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. Equities research analysts predict that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s dividend payout ratio is presently 37.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Evercore ISI boosted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Bank of America raised their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley lifted their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. 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 MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.