Citigroup Inc. $C Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its position in Citigroup Inc. (NYSE:C) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,105 shares of the company’s stock after acquiring an additional 2,068 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Citigroup were worth $4,776,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup in the first quarter valued at $28,000. Accent Capital Management LLC boosted its stake in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. DHJJ Financial Advisors Ltd. boosted its stake in shares of Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after purchasing an additional 253 shares during the period. Truvestments Capital LLC boosted its stake in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after purchasing an additional 467 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 2.4%

Citigroup stock opened at $96.18 on Tuesday. The firm’s 50-day moving average is $97.09 and its 200-day moving average is $84.05. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The company has a market cap of $177.05 billion, a P/E ratio of 14.21, a PEG ratio of 0.83 and a beta of 1.37.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period last year, the firm posted $1.52 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on C. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Wells Fargo & Company upped their target price on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research note on Monday, July 7th. Finally, UBS Group reiterated a “neutral” rating and set a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $99.68.

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.