True Wealth Design LLC Invests $67,000 in Citigroup Inc. (NYSE:C)

True Wealth Design LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,076 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds have also recently made changes to their positions in the business. POM Investment Strategies LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Citigroup during the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup during the second quarter valued at about $31,000. Triad Wealth Partners LLC acquired a new stake in shares of Citigroup in the 2nd quarter valued at about $32,000. Finally, Strategic Financial Concepts LLC raised its stake in Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after buying an additional 48,484 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on C. Bank of America raised their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Barclays increased their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Stock Performance

NYSE C opened at $70.87 on Friday. The company’s 50 day moving average is $65.30 and its 200-day moving average is $63.09. The firm has a market cap of $134.03 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. Citigroup Inc. has a 12-month low of $45.58 and a 12-month high of $71.19. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. Sell-side analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.16%. Citigroup’s dividend payout ratio is currently 64.93%.

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.