WealthShield Partners LLC Buys 5,819 Shares of Citigroup Inc. (NYSE:C)

Key Points

• WealthShield Partners LLC increased its stake in Citigroup Inc. by 14.1%, acquiring a total of 47,100 shares, valued at approximately $3.34 million.
• Citigroup recently reported strong quarterly earnings with an EPS of $1.96, exceeding estimates, and announced an increase in its quarterly dividend to $0.60.
• Institutional ownership in Citigroup stands at 71.72%, indicating strong interest from large investors, while Director Peter B. Henry sold 3,000 shares, reducing his stake by nearly 58%.

WealthShield Partners LLC increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,100 shares of the company's stock after acquiring an additional 5,819 shares during the quarter. WealthShield Partners LLC's holdings in Citigroup were worth $3,344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $28,000. MorganRosel Wealth Management LLC purchased a new position in Citigroup during the first quarter valued at $28,000. Accent Capital Management LLC boosted its holdings in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Citigroup in the 1st quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup in the 4th quarter worth about $34,000. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on C shares. Royal Bank Of Canada lowered their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Truist Financial upped their price target on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley raised their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Citigroup Stock Performance

NYSE:C traded down $0.92 during trading hours on Thursday, reaching $91.31. The company had a trading volume of 12,938,981 shares, compared to its average volume of 16,932,436. The firm has a market cap of $170.54 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.79 and a beta of 1.38. 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 firm's 50 day moving average price is $85.72 and its 200-day moving average price is $77.33. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90.

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

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

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.