TRUE Private Wealth Advisors Acquires New Holdings in Citigroup Inc. (NYSE:C)

TRUE Private Wealth Advisors acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,145 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC lifted its position in Citigroup by 130.4% during the third quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock valued at $7,221,000 after purchasing an additional 99,371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Citigroup in the third quarter worth approximately $209,000. Simplicity Solutions LLC raised its position in Citigroup by 17.6% in the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after acquiring an additional 4,150 shares during the period. Allspring Global Investments Holdings LLC raised its position in Citigroup by 56.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock worth $64,078,000 after acquiring an additional 449,310 shares during the period. Finally, GFS Advisors LLC bought a new position in Citigroup in the fourth quarter worth approximately $2,003,000. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on C shares. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, January 3rd. Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $65.00 in a research report on Tuesday, January 30th. Jefferies Financial Group raised their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $62.91.

Citigroup Trading Up 0.3 %

Shares of C opened at $58.32 on Friday. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90. The company has a 50-day moving average of $58.19 and a 200 day moving average of $51.03. The firm has a market capitalization of $111.70 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.86 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 5.91 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup 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.