Simplicity Wealth LLC Takes Position in Citigroup Inc. (NYSE:C)

Simplicity Wealth LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,239 shares of the company's stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new position in shares of Citigroup during the fourth quarter valued at approximately $28,000. American National Bank & Trust bought a new position in shares of Citigroup during the first quarter valued at approximately $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Citigroup during the fourth quarter valued at approximately $34,000. Creative Capital Management Investments LLC bought a new position in shares of Citigroup during the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup during the fourth quarter valued at approximately $37,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. TD Cowen started coverage on Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Morgan Stanley dropped their price objective on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Bank of America dropped their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $84.30.

Citigroup Stock Down 2.5%

Shares of C traded down $1.93 during midday trading on Friday, hitting $76.30. 11,986,532 shares of the company's stock traded hands, compared to its average volume of 14,546,749. The stock has a market capitalization of $142.51 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm's fifty day moving average is $71.01 and its 200-day moving average is $73.03. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business'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 in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company's stock.

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.