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BIP Wealth LLC Buys New Stake in Citigroup Inc. (NYSE:C)

Citigroup logo with Financial Services background

BIP Wealth LLC purchased a new position in Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,965 shares of the company's stock, valued at approximately $210,000.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of Citigroup by 11.1% during the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $84,000 after purchasing an additional 119 shares during the period. Continuum Advisory LLC lifted its stake in shares of Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after purchasing an additional 120 shares during the period. Insight Inv LLC lifted its stake in shares of Citigroup by 0.5% during the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after purchasing an additional 146 shares during the period. Trust Co. of Vermont lifted its stake in shares of Citigroup by 14.3% during the 1st quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after purchasing an additional 150 shares during the period. Finally, Cadence Bank lifted its stake in shares of Citigroup by 3.8% during the 4th quarter. Cadence Bank now owns 4,162 shares of the company's stock worth $293,000 after purchasing an additional 151 shares during the period. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on C. Wells Fargo & Company increased their price target on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley increased their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America increased their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Piper Sandler increased their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Oppenheimer set a $123.00 price target on Citigroup and gave the company an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.46.

Get Our Latest Report on Citigroup

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were 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 $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Performance

Citigroup stock traded down $0.66 on Wednesday, reaching $90.06. 23,312,073 shares of the stock were exchanged, compared to its average volume of 14,645,427. The stock has a market cap of $168.20 billion, a PE ratio of 14.23, a PEG ratio of 0.69 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. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $91.80. The firm has a fifty day moving average price of $79.16 and a two-hundred day moving average price of $75.03.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given 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 2.67%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.39%.

Citigroup Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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