Citigroup Inc. (NYSE:C) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,081 shares of the company’s stock after selling 469 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Citigroup were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after acquiring an additional 250,716 shares during the period. Legal & General Group Plc boosted its holdings in shares of Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares during the period. Greenhaven Associates Inc. boosted its holdings in shares of Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Citigroup by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after acquiring an additional 168,070 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $62.85 on Friday. The company’s 50-day moving average price is $61.35 and its two-hundred day moving average price is $61.92. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a market cap of $119.87 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on C. Morgan Stanley reduced their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday. Argus boosted their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Barclays lifted their price objective on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore ISI lifted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Piper Sandler lifted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

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.