Atria Wealth Solutions Inc. Sells 11,987 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in Citigroup by 8.8%, selling 11,987 shares in the first quarter, leaving it with 124,642 shares valued at approximately $8.84 million.
• Citigroup has recently increased its quarterly dividend to $0.60 per share, which represents a yield of 2.6% and a positive change from the previous dividend of $0.56.
• Several analysts have upgraded Citigroup's target prices, with most giving it a consensus rating of "Moderate Buy" and a target price of $96.54.

Atria Wealth Solutions Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,642 shares of the company's stock after selling 11,987 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Citigroup were worth $8,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisory Group LLC raised its position in shares of Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after acquiring an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after acquiring an additional 649,807 shares during the last quarter. Brighton Jones LLC grew its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC acquired a new stake in Citigroup during the first quarter worth approximately $214,000. Finally, Pinnacle Financial Partners Inc grew its stake in Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after purchasing an additional 15,436 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Wells Fargo & Company raised their target price on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Morgan Stanley raised their target price on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Oppenheimer lifted their price target on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Bank of America boosted their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Price Performance

C opened at $91.52 on Wednesday. The stock has a 50-day moving average price of $85.06 and a 200-day moving average price of $77.15. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $96.90. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $170.93 billion, a P/E ratio of 13.52, a PEG ratio of 0.79 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the company posted $1.52 EPS. Citigroup's revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by insiders.

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.

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