Citigroup Inc. (NYSE:C) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its position in shares of Citigroup Inc. (NYSE:C) by 9.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,503 shares of the company’s stock after acquiring an additional 25,353 shares during the period. Citigroup comprises 1.3% of Sound Income Strategies LLC’s investment portfolio, making the stock its 21st biggest holding. Sound Income Strategies LLC’s holdings in Citigroup were worth $17,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in C. Orion Capital Management LLC acquired a new stake in Citigroup during the 4th quarter worth $26,000. Frazier Financial Advisors LLC purchased a new position in Citigroup during the 4th quarter worth $29,000. Beaird Harris Wealth Management LLC raised its position in Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Citigroup during the 4th quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Citigroup during the 4th quarter worth $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 0.5 %

Shares of C traded down $0.33 during mid-day trading on Wednesday, hitting $61.25. The company had a trading volume of 12,397,124 shares, compared to its average volume of 15,079,040. The business’s 50-day simple moving average is $61.85 and its 200-day simple moving average is $57.70. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $64.98. The stock has a market cap of $116.83 billion, a PE ratio of 17.97, a P/E/G ratio of 0.94 and a beta of 1.48.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period last year, the company earned $1.86 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.46%. Citigroup’s payout ratio is 62.72%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a report on Monday, April 1st. Royal Bank of Canada increased their price target on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Evercore ISI increased their price target on shares of Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Finally, Jefferies Financial Group increased their price objective 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 assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.03.

About Citigroup

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.