Schear Investment Advisers LLC Boosts Holdings in Citigroup Inc. (NYSE:C)

Schear Investment Advisers LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,607 shares of the company’s stock after acquiring an additional 2,389 shares during the period. Citigroup comprises 1.3% of Schear Investment Advisers LLC’s portfolio, making the stock its 20th largest holding. Schear Investment Advisers LLC’s holdings in Citigroup were worth $2,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB raised its position in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares during the period. Avitas Wealth Management LLC grew its stake in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after acquiring an additional 143 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in shares of Citigroup by 0.4% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after purchasing an additional 150 shares during the period. Lifestyle Asset Management Inc. increased its holdings in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares during the period. Finally, Grove Bank & Trust lifted its position in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.5 %

NYSE:C opened at $81.17 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.91. The stock’s fifty day simple moving average is $75.05 and its 200-day simple moving average is $67.41. The firm has a market capitalization of $153.51 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm earned $0.84 EPS. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared 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 2.76%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on C shares. The Goldman Sachs Group upped their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Evercore ISI boosted their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Bank of America lifted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company increased their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

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.