NewEdge Wealth LLC Has $403,000 Stock Position in Citigroup Inc. (NYSE:C)

NewEdge Wealth LLC grew its stake in Citigroup Inc. (NYSE:C) by 4.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,828 shares of the company’s stock after buying an additional 364 shares during the quarter. NewEdge Wealth LLC’s holdings in Citigroup were worth $403,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Carmel Capital Partners LLC bought a new position in shares of Citigroup during the third quarter worth about $25,000. GHP Investment Advisors Inc. boosted its position in Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after acquiring an additional 290 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in shares of Citigroup during the 1st quarter worth approximately $28,000. AlphaMark Advisors LLC raised its holdings in shares of Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in shares of Citigroup by 115.0% in the third quarter. Janiczek Wealth Management LLC now owns 802 shares of the company’s stock worth $33,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research report on Wednesday, January 10th. Evercore ISI increased their price objective on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Piper Sandler upped their price target on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group increased their price target on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $62.91.

Citigroup Stock Performance

NYSE:C opened at $58.17 on Thursday. The stock has a 50 day simple moving average of $58.11 and a 200 day simple moving average of $50.98. The stock has a market cap of $111.41 billion, a P/E ratio of 17.21, a PEG ratio of 0.92 and a beta of 1.52. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter last year, the firm earned $1.86 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 5.73 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.64%. Citigroup’s payout ratio is presently 62.72%.

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.