Wealth Effects LLC Has $965,000 Position in Citigroup Inc. (NYSE:C)

Wealth Effects LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 52.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,600 shares of the company’s stock after acquiring an additional 4,650 shares during the period. Wealth Effects LLC’s holdings in Citigroup were worth $965,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in C. True Wealth Design LLC boosted its position in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after buying an additional 119 shares in the last quarter. Continuum Advisory LLC boosted its position in Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock valued at $459,000 after buying an additional 120 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC boosted its position in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after buying an additional 135 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after buying an additional 137 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after buying an additional 139 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of the business’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 transaction of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares of the company’s stock, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by insiders.

Citigroup Trading Up 1.8%

Shares of NYSE C opened at $82.64 on Thursday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a market cap of $154.35 billion, a PE ratio of 13.06, a P/E/G ratio of 0.63 and a beta of 1.33. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a 50-day moving average of $73.68 and a two-hundred day moving average of $73.45.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cowen assumed coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a “hold” rating on the stock. Morgan Stanley boosted their price target on shares of Citigroup from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research report on Tuesday. Piper Sandler restated an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Truist Financial dropped their target price 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.30.

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.