4,223 Shares in Citigroup Inc. (NYSE:C) Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 4,223 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds also recently made changes to their positions in the stock. POM Investment Strategies LLC bought a new position in Citigroup during the second quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the third quarter worth about $28,000. Beacon Capital Management LLC increased its stake in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at approximately $32,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

C stock opened at $62.35 on Tuesday. The firm has a market cap of $118.95 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. Citigroup Inc. has a 1 year low of $41.28 and a 1 year high of $67.81. The stock has a 50-day simple moving average of $61.98 and a 200-day simple moving average of $62.19. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. On average, equities analysts predict that Citigroup Inc. will post 5.87 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.59%. Citigroup’s dividend payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on C shares. Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Argus boosted their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group reduced their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Bank of America boosted their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.06.

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.