Citigroup Inc. (NYSE:C) Shares Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its investment in Citigroup Inc. by 47.3% in the first quarter, bringing its holdings to 71,796 shares, valued at $5,097,000.
• Citigroup has raised its quarterly dividend from $0.56 to $0.60 per share, representing a 2.50% yield and a positive change in shareholder returns.
• Analysts have mixed ratings on Citigroup, with TD Cowen raising the target price from $85.00 to $95.00 while Royal Bank of Canada lowered it from $85.00 to $78.00.

HB Wealth Management LLC raised its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 71,796 shares of the company's stock after purchasing an additional 23,065 shares during the quarter. HB Wealth Management LLC's holdings in Citigroup were worth $5,097,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Citigroup during the fourth quarter worth approximately $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup in the first quarter valued at approximately $28,000. American National Bank & Trust bought a new stake in Citigroup in the first quarter valued at approximately $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup in the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC increased its stake in Citigroup by 79.2% in the first quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of C traded up $1.02 during mid-day trading on Wednesday, hitting $95.50. 3,390,329 shares of the stock were exchanged, compared to its average volume of 15,872,496. The firm has a 50-day moving average of $83.13 and a two-hundred day moving average of $76.58. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $96.90. The company has a market cap of $178.37 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The business's revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share 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 given a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 33.09%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on C. Morgan Stanley increased their price target on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Piper Sandler increased their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Barclays raised their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Insiders Place Their Bets

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.08% of the company's stock.

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.