Portside Wealth Group LLC Has $1.16 Million Stock Position in Citigroup Inc. (NYSE:C)

Portside Wealth Group LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,268 shares of the company’s stock after selling 1,770 shares during the period. Portside Wealth Group LLC’s holdings in Citigroup were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in shares of Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after acquiring an additional 119 shares during the period. Continuum Advisory LLC grew its stake in shares of Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock worth $459,000 after acquiring an additional 120 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC grew its stake in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after acquiring an additional 135 shares in the last quarter. Hemington Wealth Management grew its stake in shares of Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after acquiring an additional 136 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of 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. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on C shares. Truist Financial cut their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Bank of America decreased their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley dropped their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Cowen initiated coverage on Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $83.97.

Citigroup Trading Up 2.2%

NYSE C opened at $78.32 on Monday. The firm has a market capitalization of $146.28 billion, a P/E ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. The business has a fifty day simple moving average of $69.43 and a 200 day simple moving average of $72.78. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last released its quarterly 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. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup’s payout ratio is currently 35.39%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was 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 owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

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.