Maridea Wealth Management LLC Buys Shares of 7,187 Citigroup Inc. (NYSE:C)

Key Points

• Maridea Wealth Management LLC has acquired a new stake in Citigroup Inc., purchasing 7,187 shares valued at approximately $510,000.
• Citigroup recently announced a quarterly dividend of $0.60 per share, marking an increase from the previous $0.56 per share, with a dividend yield of 2.50%.
• Analyst upgrades for Citigroup include target price increases from various firms, with Piper Sandler raising its target from $84.00 to $104.00, indicating strong positive sentiment around the stock.

Maridea Wealth Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,187 shares of the company's stock, valued at approximately $510,000.

Several other large investors also recently bought and sold shares of C. Orion Capital Management LLC acquired a new position in shares of Citigroup during the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the 4th quarter worth about $34,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Citigroup by 68.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 577 shares of the company's stock worth $38,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on C shares. UBS Group reissued a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. The Goldman Sachs Group upped their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. TD Cowen increased 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. Finally, JPMorgan Chase & Co. decreased their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Six equities 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.com, Citigroup has an average rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Performance

Shares of C stock traded down $1.41 during trading hours on Thursday, reaching $94.41. 7,158,719 shares of the company's stock were exchanged, compared to its average volume of 15,882,013. The company has a market cap of $176.32 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 0.81 and a beta of 1.34. The company's 50 day moving average is $83.58 and its two-hundred day moving average is $76.72. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $96.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last issued its 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. The business 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%. The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a $0.60 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is presently 33.09%.

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.