Citigroup Inc. (NYSE:C) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its stake in Citigroup Inc. (NYSE:C) by 41.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,006 shares of the company’s stock after buying an additional 2,925 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Citigroup were worth $704,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup during the 2nd quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the 3rd quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its position in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.7 %

Citigroup stock opened at $81.41 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a one year low of $52.24 and a one year high of $82.77. The company has a 50-day simple moving average of $72.47 and a 200-day simple moving average of $66.11. The firm has a market capitalization of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Analysts Set New Price Targets

C has been the subject of a number of research analyst reports. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Evercore ISI upped their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price target on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.