Solitude Financial Services Raises Stock Position in Citigroup Inc. (NYSE:C)

Solitude Financial Services grew its holdings in Citigroup Inc. (NYSE:C) by 0.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,496 shares of the company’s stock after buying an additional 140 shares during the period. Citigroup makes up 0.5% of Solitude Financial Services’ portfolio, making the stock its 20th largest holding. Solitude Financial Services’ holdings in Citigroup were worth $1,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Orion Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the 1st quarter worth about $28,000. American National Bank & Trust bought a new stake in shares of Citigroup in the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. bought a new stake in shares of Citigroup in the 4th quarter worth about $34,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Citigroup by 805.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock worth $37,000 after acquiring an additional 467 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 2.0%

NYSE:C opened at $91.84 on Monday. Citigroup Inc. has a one year low of $53.51 and a one year high of $96.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market cap of $171.53 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.79 and a beta of 1.38. The firm has a 50-day simple moving average of $84.36 and a 200-day simple moving average of $76.96.

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

Citigroup Increases Dividend

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

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred 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 transaction, the director owned 2,140 shares of the company’s stock, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on C. Dbs Bank upgraded shares of Citigroup from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. TD Cowen lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 16th. Barclays lifted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Truist Financial lifted their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Bank of America lifted their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.