waypoint wealth counsel Makes New Investment in Citigroup Inc. (NYSE:C)

waypoint wealth counsel bought a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,336 shares of the company's stock, valued at approximately $237,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after acquiring an additional 815,003 shares in the last quarter. FMR LLC increased its position in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Finally, Morgan Stanley raised their target price on shares of Citigroup from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.03.

Citigroup Trading Up 2.2%

NYSE C traded up $1.83 on Thursday, hitting $84.46. 18,553,929 shares of the company were exchanged, compared to its average volume of 14,551,291. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.78. The firm has a market capitalization of $157.75 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The company's 50 day moving average price is $73.68 and its 200-day moving average price is $73.45.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. Citigroup's payout ratio is currently 35.39%.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the company's 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 transaction, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

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.