Cornerstone Wealth Group LLC Sells 3,489 Shares of Citigroup Inc. (NYSE:C)

Cornerstone Wealth Group LLC decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 54,037 shares of the company's stock after selling 3,489 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Citigroup were worth $3,836,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of Citigroup by 3.4% in the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock valued at $24,844,000 after buying an additional 11,674 shares during the last quarter. Invesco Ltd. boosted its holdings in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after buying an additional 1,970,300 shares during the last quarter. Candriam S.C.A. raised its holdings in Citigroup by 12.7% in the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock worth $14,139,000 after purchasing an additional 22,657 shares during the period. Brighton Jones LLC raised its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the period. Finally, Unified Investment Management bought a new position in shares of Citigroup during the 4th quarter valued at about $658,000. Institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company insiders.

Citigroup Price Performance

Shares of C traded up $1.79 during trading hours on Tuesday, reaching $81.15. The stock had a trading volume of 18,350,166 shares, compared to its average volume of 15,786,953. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock has a market capitalization of $151.57 billion, a PE ratio of 12.82, a PEG ratio of 0.60 and a beta of 1.33. The company's 50-day moving average is $72.93 and its two-hundred day moving average is $73.33.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.76%. Citigroup's payout ratio is 35.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Tuesday, May 20th. Piper Sandler reiterated an "overweight" rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Royal Bank Of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Bank of America lowered their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, TD Cowen assumed coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $83.30.

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.