B. Riley Wealth Advisors Inc. Has $3.66 Million Stock Position in Citigroup Inc. (NYSE:C)

B. Riley Wealth Advisors Inc. increased its stake in shares of Citigroup Inc. (NYSE:C) by 8.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 51,924 shares of the company’s stock after buying an additional 4,230 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Citigroup were worth $3,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ascent Group LLC lifted its position in Citigroup by 8.8% during the 4th quarter. Ascent Group LLC now owns 36,505 shares of the company’s stock worth $2,570,000 after buying an additional 2,960 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in Citigroup during the 4th quarter valued at about $127,000. Mackenzie Financial Corp lifted its position in Citigroup by 30.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,876,682 shares of the company’s stock valued at $132,100,000 after purchasing an additional 434,280 shares during the period. Forum Financial Management LP lifted its position in Citigroup by 20.2% during the 4th quarter. Forum Financial Management LP now owns 30,338 shares of the company’s stock valued at $2,135,000 after purchasing an additional 5,089 shares during the period. Finally, Griffith & Werner Inc. acquired a new position in Citigroup during the 4th quarter valued at about $5,114,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction 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 transaction, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America cut their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler restated an “overweight” rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Wall Street Zen downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, TD Cowen assumed coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a “hold” rating and a $83.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.97.

Citigroup Price Performance

NYSE C opened at $73.09 on Monday. The business has a 50 day simple moving average of $68.68 and a 200 day simple moving average of $72.29. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $136.52 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.06%. Citigroup’s payout ratio is 35.39%.

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.