Sagespring Wealth Partners LLC Purchases 6,282 Shares of Citigroup Inc. (NYSE:C)

Sagespring Wealth Partners LLC increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 49.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,877 shares of the company's stock after buying an additional 6,282 shares during the period. Sagespring Wealth Partners LLC's holdings in Citigroup were worth $1,340,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. True Wealth Design LLC boosted its holdings in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after purchasing an additional 119 shares during the period. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% in the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after purchasing an additional 120 shares during the period. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in Citigroup by 1.6% in the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company's stock valued at $608,000 after purchasing an additional 135 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock valued at $289,000 after purchasing an additional 137 shares during the period. Finally, Rakuten Securities Inc. boosted its holdings in Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company's stock valued at $419,000 after purchasing an additional 139 shares during the period. 71.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Trading Up 2.2%

Shares of Citigroup stock opened at $78.01 on Tuesday. The stock has a market capitalization of $145.71 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $71.39 and a 200 day simple moving average of $73.10. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio is currently 35.39%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on C shares. Morgan Stanley reduced their price target on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Piper Sandler reissued an "overweight" rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. TD Cowen started coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $84.30.

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.

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