Balboa Wealth Partners Has $201,000 Stake in Citigroup Inc. (NYSE:C)

Balboa Wealth Partners reduced its stake in shares of Citigroup Inc. (NYSE:C) by 21.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,838 shares of the company’s stock after selling 788 shares during the quarter. Balboa Wealth Partners’ holdings in Citigroup were worth $201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Embree Financial Group boosted its position in shares of Citigroup by 10.8% during the first quarter. Embree Financial Group now owns 3,671 shares of the company’s stock worth $261,000 after purchasing an additional 359 shares in the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of Citigroup in the 1st quarter valued at $247,000. Legacy Advisors LLC raised its stake in Citigroup by 4.7% during the 1st quarter. Legacy Advisors LLC now owns 9,865 shares of the company’s stock worth $700,000 after buying an additional 446 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Citigroup by 11.4% during the first quarter. Asset Management One Co. Ltd. now owns 897,192 shares of the company’s stock worth $63,692,000 after acquiring an additional 91,622 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. grew its stake in Citigroup by 0.6% in the first quarter. Wetzel Investment Advisors Inc. now owns 32,966 shares of the company’s stock valued at $2,340,000 after acquiring an additional 200 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

Shares of C stock opened at $81.15 on Wednesday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company’s fifty day simple moving average is $73.27 and its 200-day simple moving average is $73.38. The firm has a market cap of $151.57 billion, a PE ratio of 12.82, a P/E/G ratio of 0.61 and a beta of 1.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.76%. Citigroup’s payout ratio is presently 35.39%.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

C has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Citigroup from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler reissued an “overweight” rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Tuesday. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Sunday, June 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.30.

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.