Avaii Wealth Management LLC Increases Stake in Citigroup Inc. (NYSE:C)

Avaii Wealth Management LLC lifted its stake in shares of Citigroup Inc. (NYSE:C) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,741 shares of the company’s stock after buying an additional 529 shares during the quarter. Avaii Wealth Management LLC’s holdings in Citigroup were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Citigroup during the fourth quarter worth about $10,400,000. Salzhauer Michael boosted its stake in Citigroup by 50.2% during the fourth quarter. Salzhauer Michael now owns 393,650 shares of the company’s stock worth $27,709,000 after acquiring an additional 131,505 shares in the last quarter. Leavell Investment Management Inc. bought a new stake in Citigroup during the fourth quarter worth about $256,000. Finally, Avidian Wealth Enterprises LLC boosted its stake in Citigroup by 7.1% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 6,585 shares of the company’s stock worth $464,000 after acquiring an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company’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 approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on C shares. Oppenheimer reissued an “outperform” rating on shares of Citigroup in a research note on Tuesday, May 20th. Morgan Stanley dropped their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group upped their target price on shares of Citigroup from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.30.

Citigroup Stock Down 2.5%

C opened at $76.30 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average price of $71.01 and a 200-day moving average price of $73.01. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The stock has a market capitalization of $142.51 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.94%. Citigroup’s dividend payout ratio is currently 35.39%.

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.