Aprio Wealth Management LLC Takes Position in Citigroup Inc. (NYSE:C)

Aprio Wealth Management LLC bought a new position in Citigroup Inc. (NYSE:C) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,275 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently made changes to their positions in C. POM Investment Strategies LLC bought a new position in Citigroup during the second quarter valued at $25,000. Beacon Capital Management LLC lifted its holdings in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in Citigroup by 1,962.1% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after acquiring an additional 569 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup during the second quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup during the second quarter valued at approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley boosted their price objective on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler upped their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Argus raised their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.06.

Citigroup Price Performance

C opened at $63.24 on Wednesday. The company has a market capitalization of $120.63 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.69 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The business’s fifty day simple moving average is $60.58 and its 200-day simple moving average is $61.81.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the prior year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.54%. Citigroup’s payout ratio is 62.75%.

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.