Cornerstone Wealth Management LLC raised its holdings in Citigroup Inc. (NYSE:C – Free Report) by 41.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,006 shares of the company’s stock after buying an additional 2,925 shares during the period. Cornerstone Wealth Management LLC’s holdings in Citigroup were worth $704,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the last quarter. Lifestyle Asset Management Inc. boosted its position in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after buying an additional 160 shares in the last quarter. Grove Bank & Trust grew its stake in Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after acquiring an additional 170 shares during the last quarter. MWA Asset Management increased its holdings in Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after acquiring an additional 173 shares in the last quarter. Finally, Bridge Creek Capital Management LLC raised its position in Citigroup by 0.3% during the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on C shares. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI increased their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley lifted their price objective on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, 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 report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.
Citigroup Stock Down 0.7 %
Shares of NYSE C opened at $81.41 on Friday. The stock has a market capitalization of $153.96 billion, a PE ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43. 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 firm has a fifty day moving average of $72.47 and a 200-day moving average of $66.11. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77.
Citigroup (NYSE:C – Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current year.
Citigroup announced that its board has initiated a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Citigroup Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued 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 2.75%. Citigroup’s payout ratio is 37.65%.
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.
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