Cornerstone Advisors LLC Acquires 52,300 Shares of Citigroup Inc. $C

Cornerstone Advisors LLC grew its holdings in Citigroup Inc. (NYSE:C) by 32.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,000 shares of the company’s stock after purchasing an additional 52,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in Citigroup were worth $18,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Private Advisory Group LLC raised its stake in Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock worth $4,940,000 after buying an additional 11,978 shares during the period. Keystone Financial Services acquired a new stake in Citigroup in the second quarter valued at approximately $216,000. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Hayek Kallen Investment Management raised its position in shares of Citigroup by 125.0% during the first quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock worth $1,103,000 after purchasing an additional 8,630 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Citigroup by 3.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 257,930 shares of the company’s stock worth $21,955,000 after purchasing an additional 9,644 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on C shares. Wells Fargo & Company upped their price objective on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Cowen restated a “hold” rating and issued a $110.00 target price on shares of Citigroup in a report on Wednesday, October 15th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. The Goldman Sachs Group reissued a “buy” rating and set a $118.00 price objective on shares of Citigroup in a report on Tuesday, October 14th. Finally, Barclays raised their target price on Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

Citigroup Stock Performance

Shares of Citigroup stock opened at $100.24 on Friday. The firm has a market capitalization of $179.35 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The business’s fifty day simple moving average is $99.66 and its 200 day simple moving average is $90.00. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.35. The firm had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.4%. Citigroup’s payout ratio is currently 33.71%.

About Citigroup

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.