Navis Wealth Advisors LLC Acquires New Holdings in Citigroup Inc. (NYSE:C)

Navis Wealth Advisors LLC bought a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,100 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds have also added to or reduced their stakes in C. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Citigroup in the 3rd quarter worth $209,000. Simplicity Solutions LLC grew its holdings in Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after buying an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Citigroup by 56.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock worth $64,078,000 after acquiring an additional 449,310 shares in the last quarter. GFS Advisors LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $2,003,000. Finally, Sound Income Strategies LLC increased its position in Citigroup by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after purchasing an additional 21,440 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on C shares. HSBC upped their price objective on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Wednesday, January 3rd. Evercore ISI upped their target price on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Finally, BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.91.

Citigroup Stock Performance

Shares of C traded up $0.87 during trading hours on Friday, reaching $62.66. 16,364,096 shares of the company traded hands, compared to its average volume of 14,990,358. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average price of $59.09 and a 200-day moving average price of $51.99. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.90. The stock has a market capitalization of $120.01 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.94 and a beta of 1.52.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.38%. Citigroup’s dividend payout ratio is presently 62.72%.

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.