Sound Income Strategies LLC Has $25.96 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Sound Income Strategies LLC raised its position in Citigroup Inc. (NYSE:C - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,614 shares of the company's stock after purchasing an additional 14,208 shares during the quarter. Citigroup makes up approximately 1.5% of Sound Income Strategies LLC's holdings, making the stock its 13th biggest position. Sound Income Strategies LLC's holdings in Citigroup were worth $25,955,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter worth about $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the 1st quarter valued at approximately $29,000. Mascagni Wealth Management Inc. acquired a new stake in Citigroup in the 4th quarter worth approximately $34,000. Creative Capital Management Investments LLC bought a new stake in Citigroup during the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on C. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Morgan Stanley cut their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, Cowen assumed coverage on 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 eleven have assigned a buy rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $84.30.

Citigroup Stock Down 2.5%

C opened at $76.30 on Friday. The company has a market capitalization of $142.51 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.64 and a beta of 1.33. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm's fifty day moving average price is $71.01 and its two-hundred day moving average price is $73.03. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current 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 2.94%. The ex-dividend date was Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% 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 this link. Corporate insiders own 0.08% of the company's stock.

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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