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

Cornerstone Advisors LLC raised its stake in shares of 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 and Exchange Commission (SEC). The institutional investor owned 96,100 shares of the company’s stock after buying 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 quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares in the last quarter. Swedbank AB bought a new stake in Citigroup in the first quarter valued at approximately $253,286,000. Acadian Asset Management LLC grew its position in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares during the period. Caxton Associates LP grew its holdings 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 worth $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, Capital World Investors increased 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 valued at $333,929,000 after acquiring an additional 1,092,980 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

C has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Evercore ISI boosted their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Oppenheimer lifted their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Price Performance

C opened at $68.28 on Thursday. The firm has a 50-day moving average of $63.84 and a 200 day moving average of $62.75. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $44.56 and a fifty-two week high of $70.20. The firm has a market cap of $129.14 billion, a P/E ratio of 19.79, a PEG ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

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