Cyndeo Wealth Partners LLC Has $709,000 Stake in Citigroup Inc. (NYSE:C)

Cyndeo Wealth Partners LLC increased its stake in shares of Citigroup Inc. (NYSE:C) by 34.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,984 shares of the company’s stock after acquiring an additional 2,579 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Citigroup were worth $709,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in C. Orion Capital Management LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. American National Bank & Trust bought a new stake in Citigroup during the 1st quarter valued at approximately $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup during the 4th quarter valued at approximately $34,000. Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. The Goldman Sachs Group raised their price objective on Citigroup from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Bank of America reduced their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. TD Cowen assumed coverage on Citigroup in a research report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective for the company. Finally, Truist Financial reduced their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.30.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 13,048 shares of the company’s stock, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Citigroup Trading Up 2.2%

Shares of C opened at $78.01 on Tuesday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50 day simple moving average of $71.39 and a 200-day simple moving average of $73.10. The stock has a market cap of $145.71 billion, a PE ratio of 13.11, a PEG ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating 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 firm had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued 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 2.87%. Citigroup’s dividend payout ratio is 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.