Beacon Harbor Wealth Advisors Inc. Increases Holdings in Citigroup Inc. (NYSE:C)

Beacon Harbor Wealth Advisors Inc. increased its holdings in shares of Citigroup Inc. (NYSE:C) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 115,829 shares of the company’s stock after acquiring an additional 2,808 shares during the period. Citigroup comprises approximately 1.9% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 14th biggest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Citigroup were worth $8,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Alternative Capital boosted its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the third quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in Citigroup during the third quarter valued at approximately $31,000. Webster Bank N. A. grew its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, Creative Capital Management Investments LLC bought a new stake in Citigroup in the 4th quarter worth approximately $35,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock 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. The stock’s fifty day moving average is $75.05 and its two-hundred day moving average is $67.41. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.91. The company has a market capitalization of $153.51 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 company had revenue of $19.58 billion during 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has approved a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.76%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Analysts Set New Price Targets

A number of research firms have recently commented on C. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Bank of America lifted their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target 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.