Baker Avenue Asset Management LP Purchases 3,440 Shares of Citigroup Inc. (NYSE:C)

Baker Avenue Asset Management LP grew its position in Citigroup Inc. (NYSE:C) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,269 shares of the company’s stock after purchasing an additional 3,440 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Citigroup were worth $1,723,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $28,000. MorganRosel Wealth Management LLC bought a new position in shares of Citigroup in the first quarter valued at approximately $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the first quarter valued at approximately $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Citigroup in the fourth quarter valued at approximately $34,000. Finally, HHM Wealth Advisors LLC raised its position in shares of Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after purchasing an additional 467 shares during the period. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter B. Henry sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Down 2.0%

C opened at $91.84 on Friday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The firm’s fifty day moving average price is $84.36 and its two-hundred day moving average price is $76.98. The company has a market capitalization of $171.53 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 4th. Citigroup’s dividend payout ratio is presently 33.09%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on C. Oppenheimer lifted their price target on shares of Citigroup from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Wednesday. Cowen began coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating on the stock. Truist Financial raised their price objective on shares of Citigroup from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Dbs Bank upgraded shares of Citigroup from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.54.

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.