Wedmont Private Capital Has $1.67 Million Stake in Citigroup Inc. (NYSE:C)

Wedmont Private Capital increased its position in Citigroup Inc. (NYSE:C - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,577 shares of the company's stock after purchasing an additional 6,188 shares during the quarter. Wedmont Private Capital's holdings in Citigroup were worth $1,674,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Core Alternative Capital grew its stake in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares during the period. Orion Capital Management LLC acquired a new stake in Citigroup in the 4th quarter valued at $28,000. American National Bank & Trust bought a new stake in Citigroup in the first quarter valued at $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup in the fourth quarter valued at $34,000. Finally, Creative Capital Management Investments LLC acquired a new position in Citigroup during the fourth quarter worth $35,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Cowen began coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. 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 report on Wednesday, April 16th. Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Finally, TD Cowen started coverage on Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.97.

Citigroup Price Performance

Shares of C stock opened at $78.32 on Monday. The stock has a 50-day moving average price of $69.43 and a 200 day moving average price of $72.78. 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 firm has a market cap of $146.28 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. 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 issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The company 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 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.86%. 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 the company's stock in a transaction that occurred 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 completion of the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by company insiders.

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.

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