IFP Advisors Inc lessened its position in Citigroup Inc. (NYSE:C - Free Report) by 65.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,993 shares of the company's stock after selling 34,542 shares during the quarter. IFP Advisors Inc's holdings in Citigroup were worth $1,278,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. OneAscent Financial Services LLC raised its holdings in shares of Citigroup by 115.7% in the 1st quarter. OneAscent Financial Services LLC now owns 9,544 shares of the company's stock valued at $674,000 after buying an additional 5,119 shares during the period. Calton & Associates Inc. raised its holdings in shares of Citigroup by 318.7% in the 1st quarter. Calton & Associates Inc. now owns 19,435 shares of the company's stock valued at $1,380,000 after buying an additional 14,793 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Citigroup by 1.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 42,166 shares of the company's stock valued at $2,993,000 after buying an additional 470 shares during the period. Birinyi Associates Inc. grew its stake in Citigroup by 2.5% during the 1st quarter. Birinyi Associates Inc. now owns 105,905 shares of the company's stock worth $7,518,000 after purchasing an additional 2,555 shares in the last quarter. Finally, Carnegie Lake Advisors LLC grew its stake in Citigroup by 14.3% during the 1st quarter. Carnegie Lake Advisors LLC now owns 11,173 shares of the company's stock worth $793,000 after purchasing an additional 1,396 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on C. Bank of America boosted their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. TD Cowen upped their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Barclays upped their price objective on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler upped their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.46.
Check Out Our Latest Stock Analysis on Citigroup
Insider Buying and Selling at Citigroup
In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction 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 transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director owned 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Citigroup Price Performance
Citigroup stock traded up $0.65 during mid-day trading on Friday, hitting $96.04. 13,537,763 shares of the company were exchanged, compared to its average volume of 16,283,003. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The business's 50 day simple moving average is $82.36 and its two-hundred day simple moving average is $76.27. The company has a market capitalization of $179.37 billion, a P/E ratio of 14.19, a PEG ratio of 0.83 and a beta of 1.34. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $96.90.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share 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 the consensus estimate 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 last year, the business posted $1.52 earnings per share. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal 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 issued a dividend of $0.60 per share. 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 2.50%. Citigroup's dividend payout ratio (DPR) is 33.09%.
About Citigroup
(
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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