True Wealth Design LLC acquired a new position in shares of Citigroup Inc. (NYSE:C – Free Report) 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 – Get Free Report) 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.
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