Citigroup Inc. (NYSE:C) Shares Acquired by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC increased its stake in Citigroup Inc. (NYSE:C) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 21,365 shares of the company’s stock after acquiring an additional 320 shares during the period. Beacon Financial Advisory LLC’s holdings in Citigroup were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Swedbank AB increased its holdings in shares of Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after purchasing an additional 3,947,912 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Citigroup by 70.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares during the period. Finally, SG Americas Securities LLC grew its position in Citigroup by 103.6% in the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after buying an additional 1,410,950 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Oppenheimer dropped their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

C opened at $79.48 on Thursday. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77. The firm has a market capitalization of $150.32 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The stock’s 50 day moving average price is $74.21 and its two-hundred day moving average price is $66.91. 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 (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business 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%. Citigroup’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are 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.