Armstrong Fleming & Moore Inc Makes New $470,000 Investment in Citigroup Inc. (NYSE:C)

Armstrong Fleming & Moore Inc bought a new position in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,623 shares of the company's stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. American National Bank & Trust bought a new stake in shares of Citigroup in the first quarter valued at about $29,000. Mascagni Wealth Management Inc. bought a new position in Citigroup in the fourth quarter worth about $34,000. Finally, Creative Capital Management Investments LLC bought a new position in Citigroup in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE C opened at $76.60 on Friday. The business's 50 day moving average price is $69.27 and its 200 day moving average price is $72.66. The firm has a market cap of $143.07 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share 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 given a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.92%. Citigroup's dividend payout ratio is currently 35.39%.

Insiders Place Their Bets

In other Citigroup 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 value of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America reduced their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. Truist Financial reduced their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $83.97.

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.

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