Cornerstone Wealth Group LLC Sells 3,489 Shares of Citigroup Inc. (NYSE:C)

Cornerstone Wealth Group LLC decreased its position in Citigroup Inc. (NYSE:C) by 6.1% during the 1st quarter, Holdings Channel reports. The firm owned 54,037 shares of the company’s stock after selling 3,489 shares during the period. Cornerstone Wealth Group LLC’s holdings in Citigroup were worth $3,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after acquiring an additional 119 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after acquiring an additional 120 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after acquiring an additional 135 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after buying an additional 137 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in shares of Citigroup by 2.4% during the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after buying an additional 139 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C stock opened at $79.42 on Tuesday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The stock’s 50-day moving average is $72.93 and its 200 day moving average is $73.33. The company has a market cap of $148.34 billion, a P/E ratio of 12.55, a PEG ratio of 0.60 and a beta of 1.33. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio is presently 35.39%.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Sunday, June 1st. Oppenheimer restated an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Bank of America lowered their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada decreased their target price on 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.30.

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.