Cornerstone Wealth Group LLC Acquires 1,624 Shares of Citigroup Inc. (NYSE:C)

Cornerstone Wealth Group LLC increased its holdings in Citigroup Inc. (NYSE:C) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,526 shares of the company’s stock after purchasing an additional 1,624 shares during the period. Cornerstone Wealth Group LLC’s holdings in Citigroup were worth $4,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the last quarter. Lifestyle Asset Management Inc. increased its stake in Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares during the last quarter. Grove Bank & Trust raised its position in Citigroup by 7.1% during the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares during the period. MWA Asset Management raised its position in Citigroup by 1.4% during the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the period. Finally, Bridge Creek Capital Management LLC boosted its holdings in shares of Citigroup by 0.3% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after purchasing an additional 175 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 0.7 %

Shares of NYSE C opened at $81.41 on Monday. 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 business’s 50 day moving average is $72.47 and its two-hundred day moving average is $66.10. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77. The firm has a market cap of $153.96 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup announced that its board has authorized 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 reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on C. Evercore ISI increased 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. The Goldman Sachs Group increased their price objective on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.