Congress Wealth Management LLC DE Acquires New Holdings in Citigroup Inc. (NYSE:C)

Congress Wealth Management LLC DE acquired a new stake in Citigroup Inc. (NYSE:CGet Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,532 shares of the company’s stock, valued at approximately $3,535,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Syverson Strege & Co grew its stake in Citigroup by 3,181.8% in the 3rd quarter. Syverson Strege & Co now owns 361 shares of the company’s stock valued at $25,000 after acquiring an additional 350 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in shares of Citigroup during the 3rd quarter worth about $26,000. Disciplined Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $26,000. Benjamin Edwards Inc. acquired a new stake in shares of Citigroup during the 3rd quarter worth about $27,000. Finally, IMA Wealth Inc. acquired a new stake in shares of Citigroup during the 3rd quarter worth about $28,000. 72.09% of the stock is currently owned by hedge funds and other institutional investors.

In other Citigroup news, insider Sara Wechter sold 14,800 shares of the firm’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $68.56, for a total value of $1,014,688.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

Shares of C stock traded up $0.78 during mid-day trading on Friday, reaching $50.93. 34,043,124 shares of the company were exchanged, compared to its average volume of 25,676,844. Citigroup Inc. has a fifty-two week low of $49.04 and a fifty-two week high of $80.29. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $100.89 billion, a P/E ratio of 6.01, a P/E/G ratio of 0.64 and a beta of 1.67. The business’s 50 day simple moving average is $57.67 and its 200 day simple moving average is $63.11.

Citigroup (NYSE:CGet Rating) last released its quarterly earnings data on Thursday, April 14th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.03). The business had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.12 billion. Citigroup had a return on equity of 10.96% and a net margin of 22.95%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.62 EPS. On average, analysts forecast that Citigroup Inc. will post 7.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Monday, May 2nd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, April 29th. Citigroup’s dividend payout ratio is presently 24.06%.

Several research analysts have recently weighed in on C shares. BMO Capital Markets cut their price objective on shares of Citigroup from $83.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Morgan Stanley lowered shares of Citigroup from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $75.00 to $60.00 in a report on Monday, March 28th. Keefe, Bruyette & Woods lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $81.00 to $64.00 in a report on Thursday, March 3rd. Atlantic Securities lowered shares of Citigroup from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a report on Thursday, March 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $80.50 to $76.00 and set a “neutral” rating on the stock in a report on Thursday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Hold” and a consensus price target of $72.10.

Citigroup Company Profile (Get Rating)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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