Accel Wealth Management Purchases Shares of 4,734 Citigroup Inc. (NYSE:C)

Accel Wealth Management purchased a new stake in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,734 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC raised its stake in Citigroup by 130.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after acquiring an additional 99,371 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Citigroup during the 3rd quarter worth $209,000. Sound Income Strategies LLC raised its stake in Citigroup by 9.1% during the 4th quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after acquiring an additional 21,440 shares in the last quarter. Stifel Financial Corp raised its stake in Citigroup by 4.5% during the 3rd quarter. Stifel Financial Corp now owns 943,832 shares of the company’s stock worth $38,820,000 after acquiring an additional 40,630 shares in the last quarter. Finally, Kahn Brothers Group Inc. raised its stake in Citigroup by 0.7% during the 3rd quarter. Kahn Brothers Group Inc. now owns 1,215,684 shares of the company’s stock worth $50,001,000 after acquiring an additional 8,878 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of several analyst reports. The Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $68.00 in a report on Thursday, March 14th. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, January 3rd. Wells Fargo & Company lifted their target price on shares of Citigroup from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler raised shares of Citigroup from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $56.00 to $63.00 in a report on Wednesday, February 14th. Finally, Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.56.

Citigroup Trading Up 0.8 %

C traded up $0.49 during trading on Thursday, hitting $63.24. 19,000,791 shares of the company’s stock were exchanged, compared to its average volume of 17,437,029. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $63.37. The stock has a 50 day moving average price of $56.06 and a 200 day moving average price of $48.95. The firm has a market cap of $121.12 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.50.

Citigroup (NYSE:C) last announced its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The business had revenue of $17.44 billion for the quarter, compared to analysts’ expectations of $18.71 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect that Citigroup Inc. will post 5.83 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 5th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, February 2nd. Citigroup’s dividend payout ratio is currently 53.13%.

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.