Marcum Wealth LLC Grows Position in Citigroup Inc. (NYSE:C)

Marcum Wealth LLC raised its position in Citigroup Inc. (NYSE:C) by 7.9% in the first quarter, Holdings Channel reports. The fund owned 5,483 shares of the company’s stock after buying an additional 403 shares during the period. Marcum Wealth LLC’s holdings in Citigroup were worth $389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds 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% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after acquiring an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 815,003 shares during the last quarter. FMR LLC boosted its holdings in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after buying an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. grew its position 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 buying an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Transactions at Citigroup

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 value 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $75.51 on Friday. The company has a 50-day simple moving average of $68.87 and a 200-day simple moving average of $72.40. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $141.03 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.97%. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Analyst Ratings Changes

Several equities analysts have issued reports on C shares. Truist Financial decreased their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley cut their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group reduced their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Finally, TD Cowen started coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.97.

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.