Citigroup Inc. (NYSE:C) Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Citigroup Inc. (NYSE:C) by 26.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,396 shares of the company’s stock after purchasing an additional 1,319 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Citigroup were worth $329,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Massachusetts Wealth Management grew its position in Citigroup by 0.5% in the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after acquiring an additional 192 shares in the last quarter. Founders Capital Management increased its stake in Citigroup by 12.5% during the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after buying an additional 200 shares during the period. Cowa LLC lifted its holdings in Citigroup by 3.1% during the 4th quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after buying an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of Citigroup by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock worth $1,267,000 after acquiring an additional 200 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Citigroup by 5.6% during the fourth quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock worth $198,000 after acquiring an additional 205 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Oppenheimer cut their price target on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. Finally, HSBC boosted their target price on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.85.

Citigroup Stock Performance

NYSE C opened at $63.32 on Friday. The firm has a market cap of $121.28 billion, a P/E ratio of 18.62, a P/E/G ratio of 0.92 and a beta of 1.49. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The business’s 50-day moving average price is $60.13 and its 200 day moving average price is $53.17. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. On average, equities research analysts expect that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio is presently 62.72%.

About Citigroup

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.