Lyell Wealth Management LP Buys Shares of 42,767 Citigroup Inc. (NYSE:C)

Lyell Wealth Management LP bought a new stake in shares of Citigroup Inc. (NYSE:C) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 42,767 shares of the company’s stock, valued at approximately $3,036,000.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Orion Capital Management LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at approximately $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup during the first quarter valued at approximately $28,000. American National Bank & Trust purchased a new stake in Citigroup in the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. purchased a new stake in Citigroup in the fourth quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Citigroup by 68.2% in the first quarter. Cornerstone Planning Group LLC now owns 577 shares of the company’s stock worth $38,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.5%

Shares of C stock opened at $95.89 on Thursday. The company has a market capitalization of $179.10 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.81 and a beta of 1.34. Citigroup Inc. has a one year low of $53.51 and a one year high of $96.90. The company’s fifty day moving average price is $83.58 and its 200-day moving average price is $76.72. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. Sell-side analysts expect 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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.50%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is presently 33.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Morgan Stanley raised their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Truist Financial raised their target price on shares of Citigroup from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Oppenheimer raised their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $96.54.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 directly 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 legal filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by insiders.

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.