Beirne Wealth Consulting Services LLC Invests $308,000 in Citigroup Inc. (NYSE:C)

Beirne Wealth Consulting Services LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,339 shares of the company's stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in C. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% in 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 last quarter. Proficio Capital Partners LLC bought a new stake in Citigroup during the fourth quarter worth approximately $274,000. Moors & Cabot Inc. increased its stake in Citigroup by 7.3% during the fourth quarter. Moors & Cabot Inc. now owns 17,128 shares of the company's stock worth $1,206,000 after acquiring an additional 1,162 shares during the last quarter. Essential Planning LLC. bought a new stake in Citigroup during the fourth quarter worth approximately $639,000. Finally, Avantax Advisory Services Inc. increased its stake in Citigroup by 5.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 70,158 shares of the company's stock worth $4,938,000 after acquiring an additional 3,811 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

C stock traded up $3.05 during mid-day trading on Tuesday, reaching $90.55. The company's stock had a trading volume of 39,245,193 shares, compared to its average volume of 14,644,535. The stock has a market cap of $169.12 billion, a PE ratio of 14.31, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The company's 50 day moving average is $78.74 and its two-hundred day moving average is $74.92. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $91.79.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the business posted $1.52 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 35.39%.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup 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 owned 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. UBS Group restated a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday. Cowen assumed coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Truist Financial boosted their price target on Citigroup from $84.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.97.

About Citigroup

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.