Insight Wealth Strategies LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,846 shares of the company’s stock after selling 371 shares during the period. Insight Wealth Strategies LLC’s holdings in Citigroup were worth $697,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlas Capital Advisors LLC bought a new position in shares of Citigroup in the first quarter worth approximately $36,000. Logan Capital Management Inc. bought a new position in shares of Citigroup in the first quarter worth approximately $37,000. Lee Financial Co increased its position in shares of Citigroup by 44.1% in the second quarter. Lee Financial Co now owns 526 shares of the company’s stock worth $37,000 after purchasing an additional 161 shares during the last quarter. Elmwood Wealth Management Inc. bought a new position in shares of Citigroup in the first quarter worth approximately $46,000. Finally, USA Financial Portformulas Corp increased its position in shares of Citigroup by 3,877.8% in the second quarter. USA Financial Portformulas Corp now owns 716 shares of the company’s stock worth $51,000 after purchasing an additional 698 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.
Shares of C stock opened at $71.18 on Friday. The stock has a fifty day moving average of $70.11 and a 200 day moving average of $72.08. Citigroup Inc. has a 52 week low of $40.49 and a 52 week high of $80.29. The firm has a market capitalization of $144.27 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.87 and a beta of 1.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.43.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Monday, August 2nd were issued a $0.51 dividend. The ex-dividend date was Friday, July 30th. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. Citigroup’s dividend payout ratio (DPR) is 41.80%.
C has been the topic of several research analyst reports. Piper Sandler decreased their price objective on shares of Citigroup from $95.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, July 15th. Morgan Stanley upped their target price on Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Wells Fargo & Company upped their target price on Citigroup from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 8th. Keefe, Bruyette & Woods started coverage on Citigroup in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $85.00 target price for the company. Finally, Credit Suisse Group cut their target price on Citigroup from $83.00 to $82.00 and set an “outperform” rating for the company in a research note on Monday, July 19th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Buy” and a consensus target price of $79.97.
Citigroup Company Profile
Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.
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