Waterfront Wealth Inc. Grows Position in Citigroup Inc. (NYSE:C)

Waterfront Wealth Inc. boosted its stake in Citigroup Inc. (NYSE:C) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,816 shares of the company’s stock after buying an additional 448 shares during the quarter. Waterfront Wealth Inc.’s holdings in Citigroup were worth $1,019,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Carmel Capital Partners LLC bought a new position in Citigroup in the 3rd quarter valued at $25,000. SkyView Investment Advisors LLC bought a new position in shares of Citigroup during the 1st quarter worth $28,000. Rakuten Securities Inc. bought a new position in shares of Citigroup during the 4th quarter worth $35,000. GHP Investment Advisors Inc. grew its stake in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after acquiring an additional 290 shares during the period. Finally, AlphaMark Advisors LLC grew its stake in shares of Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on C shares. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Wednesday, January 3rd. HSBC raised their target price on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group raised their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $62.91.

Citigroup Trading Up 2.0 %

Shares of C stock traded up $1.15 during trading hours on Wednesday, reaching $58.17. The company’s stock had a trading volume of 14,882,195 shares, compared to its average volume of 17,329,232. The stock has a market capitalization of $111.41 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.92 and a beta of 1.52. Citigroup Inc. has a one year low of $38.17 and a one year high of $63.90. The firm’s fifty day simple moving average is $58.11 and its 200 day simple moving average is $50.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its quarterly earnings results 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 return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same period in the previous year, the company posted $1.86 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 5.73 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

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.