MONECO Advisors LLC Acquires 848 Shares of Citigroup Inc. (NYSE:C)

MONECO Advisors LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,544 shares of the company’s stock after acquiring an additional 848 shares during the quarter. MONECO Advisors LLC’s holdings in Citigroup were worth $461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pavion Blue Capital LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $206,000. Howard Capital Management Inc. boosted its holdings in Citigroup by 1.8% in the fourth quarter. Howard Capital Management Inc. now owns 90,951 shares of the company’s stock valued at $6,402,000 after acquiring an additional 1,591 shares during the last quarter. First Horizon Advisors Inc. increased its position in Citigroup by 1.1% during the 4th quarter. First Horizon Advisors Inc. now owns 326,040 shares of the company’s stock valued at $22,950,000 after purchasing an additional 3,411 shares during the period. Pinnacle Financial Partners Inc raised its holdings in Citigroup by 1,499.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 3,118 shares of the company’s stock worth $218,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Callan Capital LLC lifted its position in shares of Citigroup by 11.7% in the 4th quarter. Callan Capital LLC now owns 6,245 shares of the company’s stock worth $440,000 after purchasing an additional 655 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on C. Evercore ISI lifted their target price 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. Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Buying and Selling at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Down 1.5 %

Shares of NYSE C opened at $78.49 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The stock has a market capitalization of $148.44 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a 50-day moving average price of $76.94 and a 200-day moving average price of $68.80.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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.