Wealthfront Advisers LLC Buys 12,425 Shares of Citigroup Inc. $C

Wealthfront Advisers LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 6.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 198,066 shares of the company’s stock after acquiring an additional 12,425 shares during the period. Wealthfront Advisers LLC’s holdings in Citigroup were worth $20,104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMB Wealth Management lifted its stake in shares of Citigroup by 4.1% in the 3rd quarter. FMB Wealth Management now owns 2,618 shares of the company’s stock valued at $266,000 after purchasing an additional 103 shares during the period. Tritonpoint Wealth LLC raised its holdings in Citigroup by 2.1% in the third quarter. Tritonpoint Wealth LLC now owns 4,989 shares of the company’s stock worth $506,000 after purchasing an additional 104 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its position in Citigroup by 3.6% during the second quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock valued at $265,000 after buying an additional 109 shares during the period. Highline Wealth Partners LLC lifted its position in Citigroup by 35.3% during the third quarter. Highline Wealth Partners LLC now owns 418 shares of the company’s stock valued at $42,000 after buying an additional 109 shares during the period. Finally, Fullcircle Wealth LLC boosted its holdings in shares of Citigroup by 0.9% during the 2nd quarter. Fullcircle Wealth LLC now owns 13,097 shares of the company’s stock valued at $1,206,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: JPMorgan raised its price target on Citigroup to $134 and kept an “Overweight” rating, providing a near-term analyst-driven upside case for the shares. Benzinga: JPMorgan raises PT
• Positive Sentiment: Citi recently hit a 52?week high, reflecting strong momentum and encouraging investor sentiment that can support further gains if fundamentals remain intact. Investing.com: Citigroup hits 52-week high
• Neutral Sentiment: Citigroup served as a joint global coordinator on the UI Boustead REIT pre?IPO marketing — a routine investment?banking role that generates fees but is not a material event by itself. Economic Times: UI Boustead REIT premarketing
• Neutral Sentiment: Citigroup entities notified they ceased to be a substantial holder in IDP Education — a portfolio repositioning move by Citi’s trading/asset teams that doesn’t indicate a change in corporate fundamentals. TipRanks: Citi sells IDP stake
• Negative Sentiment: Seeking Alpha flagged Citi’s new 6.25% preferred issuance (rated a “Hold”); issuance of higher?yield preferred stock can signal capital needs and may be perceived as incremental financing that is less favorable for common shareholders. Seeking Alpha: Citigroup issues new 6.25% preferred
• Negative Sentiment: Recent quarterly results were mixed: Citi beat EPS estimates but missed revenue expectations, which can spark concern about top?line momentum even when profitability metrics look OK — a likely contributor to intraday weakness.

Citigroup Trading Down 1.4%

NYSE:C opened at $122.09 on Wednesday. The stock has a market cap of $218.45 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average price is $116.07 and its 200-day moving average price is $104.41. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $125.16.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.16. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The business had revenue of $19.87 billion for the quarter, compared to analysts’ expectations of $20.99 billion. During the same period in the prior year, the firm posted $1.34 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast 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 will be paid on Friday, February 27th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, February 2nd. Citigroup’s dividend payout ratio is presently 34.43%.

Analyst Ratings Changes

C has been the subject of several research reports. Truist Financial increased their price target on shares of Citigroup from $123.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Morgan Stanley raised their target price on shares of Citigroup from $134.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Zacks Research upgraded shares of Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, January 21st. Finally, Oppenheimer raised their price objective on Citigroup from $141.00 to $144.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.19.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.