Cornerstone Advisors LLC Buys 400 Shares of Citigroup Inc. (NYSE:C)

Cornerstone Advisors LLC increased its position in Citigroup Inc. (NYSE:C) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,100 shares of the company’s stock after purchasing an additional 400 shares during the period. Cornerstone Advisors LLC’s holdings in Citigroup were worth $6,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Citigroup by 123.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the last quarter. Swedbank AB bought a new position in Citigroup in the 1st quarter worth approximately $253,286,000. Acadian Asset Management LLC boosted its position in shares of Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after acquiring an additional 2,100,135 shares during the last quarter. Caxton Associates LP grew its position in shares of Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Citigroup by 26.1% in the first quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock worth $333,929,000 after buying an additional 1,092,980 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America upped their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer upped their price objective on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One investment 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Stock Performance

NYSE C opened at $68.28 on Thursday. The stock has a market capitalization of $129.14 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 0.77 and a beta of 1.44. The stock has a 50-day moving average of $63.84 and a 200 day moving average of $62.75. Citigroup Inc. has a twelve month low of $44.56 and a twelve month high of $70.20. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.28%. Citigroup’s payout ratio is currently 64.93%.

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.