Cornerstone Wealth Group LLC Has $3.50 Million Stock Position in Citigroup Inc. (NYSE:C)

Cornerstone Wealth Group LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 1.2% in the 1st quarter, HoldingsChannel reports. The fund owned 55,264 shares of the company’s stock after selling 664 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Citigroup were worth $3,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC bought a new position in Citigroup in the fourth quarter valued at approximately $29,000. Beaird Harris Wealth Management LLC increased its stake in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the last quarter. Rakuten Securities Inc. bought a new position in Citigroup in the fourth quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Citigroup in the fourth quarter valued at approximately $39,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 3.1 %

Shares of NYSE C traded up $1.91 during trading on Friday, hitting $63.46. 20,053,213 shares of the company traded hands, compared to its average volume of 11,738,575. The business’s fifty day moving average is $62.06 and its 200 day moving average is $57.93. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $64.98. The firm has a market capitalization of $121.05 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 0.97 and a beta of 1.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.34%. Citigroup’s dividend payout ratio is currently 62.72%.

Analyst Ratings Changes

A number of analysts have weighed in on C shares. Evercore ISI boosted their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. HSBC boosted their target price on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Piper Sandler boosted their price objective on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Citigroup in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.03.

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.