IVC Wealth Advisors LLC Makes New $215,000 Investment in Citigroup Inc. (NYSE:C)

IVC Wealth Advisors LLC bought a new position in Citigroup Inc. (NYSE:C) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,398 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Wealth Management boosted its holdings in shares of Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock valued at $2,046,000 after acquiring an additional 192 shares in the last quarter. Founders Capital Management boosted its holdings in shares of Citigroup by 12.5% in the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock valued at $93,000 after acquiring an additional 200 shares in the last quarter. Cowa LLC boosted its holdings in shares of Citigroup by 3.1% in the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after acquiring an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Citigroup by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after acquiring an additional 200 shares in the last quarter. Finally, Rossmore Private Capital boosted its holdings in shares of Citigroup by 1.5% in the fourth quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock valued at $710,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C traded down $0.22 during trading on Wednesday, hitting $64.46. The stock had a trading volume of 6,574,081 shares, compared to its average volume of 14,991,081. The firm has a market cap of $122.95 billion, a PE ratio of 19.07, a P/E/G ratio of 0.97 and a beta of 1.46. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $65.22. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $62.19 and a 200-day simple moving average of $58.23.

Citigroup (NYSE:C) last announced its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping 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 the consensus estimate of $20.46 billion. During the same quarter last year, the firm posted $1.86 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler increased their target price on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. HSBC increased their target price on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Oppenheimer decreased their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.16.

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.