Thrive Wealth Management LLC Sells 325 Shares of Citigroup Inc. (NYSE:C)

Thrive Wealth Management LLC cut its position in Citigroup Inc. (NYSE:C) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,397 shares of the company’s stock after selling 325 shares during the quarter. Thrive Wealth Management LLC’s holdings in Citigroup were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of C. Mechanics Bank Trust Department purchased a new stake in Citigroup in the fourth quarter valued at about $216,000. Diversify Advisory Services LLC increased its holdings in shares of Citigroup by 1.9% during the fourth quarter. Diversify Advisory Services LLC now owns 12,225 shares of the company’s stock valued at $873,000 after acquiring an additional 225 shares in the last quarter. Diversify Wealth Management LLC raised its position in shares of Citigroup by 2.2% in the 4th quarter. Diversify Wealth Management LLC now owns 13,553 shares of the company’s stock valued at $968,000 after purchasing an additional 291 shares during the last quarter. Successful Portfolios LLC acquired a new stake in Citigroup in the 4th quarter worth approximately $209,000. Finally, Grove Bank & Trust grew its position in Citigroup by 17.0% during the 4th quarter. Grove Bank & Trust now owns 3,000 shares of the company’s stock worth $211,000 after purchasing an additional 436 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 2.0 %

Shares of C opened at $80.05 on Monday. The firm has a market cap of $151.40 billion, a P/E ratio of 23.20, a PEG ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a 12 month low of $50.51 and a 12 month high of $80.45. The stock’s 50 day moving average is $71.22 and its two-hundred day moving average is $65.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

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 firm had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Analysts predict that Citigroup Inc. will post 5.88 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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 paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is presently 64.93%.

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

Wall Street Analysts Forecast Growth

C has been the subject of several research reports. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday. 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.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company 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.