Grant Private Wealth Management Inc Purchases New Shares in Citigroup Inc. (NYSE:C)

Grant Private Wealth Management Inc acquired a new position in Citigroup Inc. (NYSE:C) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,430 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Citigroup during the fourth quarter valued at approximately $1,935,599,000. Capital World Investors boosted its stake in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC raised its holdings in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Citigroup during the 4th quarter valued at $198,231,000. Finally, Franklin Resources Inc. lifted its position in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

Shares of C stock opened at $76.30 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $142.51 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.64 and a beta of 1.33. The company’s 50-day simple moving average is $71.01 and its two-hundred day simple moving average is $73.03. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Analyst Ratings Changes

A number of research analysts recently issued reports on C shares. Cowen assumed coverage on shares of Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating for the company. Morgan Stanley cut their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. TD Cowen started coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price target (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada dropped their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.30.

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.