Envestnet Portfolio Solutions Inc. Has $3.89 Million Position in Citigroup Inc. (NYSE:C)

Envestnet Portfolio Solutions Inc. cut its holdings in Citigroup Inc. (NYSE:C - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,824 shares of the company's stock after selling 19,391 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Citigroup were worth $3,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in C. Orion Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup during the first quarter worth $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Citigroup in the fourth quarter worth $34,000. Runnymede Capital Advisors Inc. bought a new position in shares of Citigroup in the fourth quarter worth $39,000. Finally, Whipplewood Advisors LLC increased its holdings in shares of Citigroup by 79.2% in the first quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock worth $40,000 after purchasing an additional 252 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on C. Truist Financial cut their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Cowen assumed coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Royal Bank Of Canada lowered their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley lowered their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Six research 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 $84.30.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm'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 completion of the sale, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

NYSE:C opened at $78.39 on Friday. 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 12-month low of $53.51 and a 12-month high of $84.74. The stock has a 50-day moving average price of $72.60 and a 200 day moving average price of $73.27. The stock has a market capitalization of $146.41 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.60 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio is presently 35.39%.

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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