Citigroup Inc. (NYSE:C) Position Reduced by Thrive Wealth Management LLC

Thrive Wealth Management LLC reduced its position in shares of Citigroup Inc. (NYSE:C) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,160 shares of the company’s stock after selling 237 shares during the quarter. Thrive Wealth Management LLC’s holdings in Citigroup were worth $650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of C. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup in the first quarter worth $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup in the fourth quarter worth $34,000. Finally, Creative Capital Management Investments LLC acquired a new stake in Citigroup during the 4th quarter worth about $35,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Down 0.1%

Citigroup stock opened at $76.44 on Thursday. The firm has a market cap of $142.77 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.64 and a beta of 1.33. The firm has a fifty day moving average price of $69.16 and a two-hundred day moving average price of $72.60. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced 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 net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.93%. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on C shares. Morgan Stanley reduced their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday. Truist Financial decreased their target price on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. TD Cowen assumed coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.97.

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.