Citigroup Inc. (NYSE:C) Shares Purchased by Wealthspire Advisors LLC

Key Points

• Wealthspire Advisors LLC increased its stake in Citigroup Inc. by 69.7% in the first quarter, owning a total of 14,507 shares valued at approximately $1,030,000.
• Analysts have raised their price targets for Citigroup, with Piper Sandler setting a new target at $104.00 and Wells Fargo at $115.00, reflecting a general consensus of a "Moderate Buy" rating.
• Citigroup announced a quarterly dividend increase to $0.60 per share, with a dividend yield of 2.6%, payable on August 22nd.

Wealthspire Advisors LLC raised its position in Citigroup Inc. (NYSE:C - Free Report) by 69.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,507 shares of the company's stock after purchasing an additional 5,960 shares during the period. Wealthspire Advisors LLC's holdings in Citigroup were worth $1,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 2.2% during the fourth 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 during the last quarter. Capital World Investors boosted its position in 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 acquiring an additional 25,705,141 shares during the last quarter. Northern Trust Corp boosted its position in Citigroup by 13.9% during the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock worth $1,424,169,000 after acquiring an additional 2,467,958 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Citigroup by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company's stock worth $947,082,000 after acquiring an additional 46,646 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Citigroup by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,497,812 shares of the company's stock worth $879,721,000 after acquiring an additional 1,794,597 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on C. UBS Group reiterated a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Barclays boosted their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Oppenheimer boosted their price target on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average target price of $96.54.

Citigroup Stock Performance

Shares of C stock traded up $1.56 during mid-day trading on Friday, hitting $92.79. The stock had a trading volume of 10,764,944 shares, compared to its average volume of 17,101,220. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The firm has a market cap of $170.82 billion, a PE ratio of 13.71, a PEG ratio of 0.80 and a beta of 1.38. 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 company's 50-day simple moving average is $86.07 and its 200-day simple moving average is $77.38.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 net margin of 8.44% and a return on equity of 7.29%. The business's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This is an increase 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 yield of 2.6%. Citigroup's payout ratio is 35.45%.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company's stock.

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.