Power Wealth Management LLC Buys Shares of 11,261 Citigroup Inc. (NYSE:C)

Power Wealth Management LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,261 shares of the company’s stock, valued at approximately $579,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Wealth Management raised its stake in shares of Citigroup by 0.5% in the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after purchasing an additional 192 shares during the last quarter. Founders Capital Management boosted its holdings in shares of Citigroup by 12.5% during the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after purchasing an additional 200 shares during the last quarter. Cowa LLC boosted its stake in Citigroup by 3.1% during the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after buying an additional 200 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Citigroup by 0.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after buying an additional 200 shares in the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Citigroup by 5.6% in the 4th quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock worth $198,000 after acquiring an additional 205 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.8 %

Shares of C stock traded up $0.51 during trading on Friday, reaching $61.52. The company’s stock had a trading volume of 11,048,877 shares, compared to its average volume of 15,112,875. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90. The stock’s 50-day moving average price is $59.70 and its 200 day moving average price is $52.62. The company has a market capitalization of $117.83 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.45%. Citigroup’s dividend payout ratio (DPR) is 62.72%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. Piper Sandler lifted their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.85.

Citigroup Company 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.