Diversify Wealth Management LLC Increases Stock Position in Citigroup Inc. $C

Diversify Wealth Management LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 270.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 37,560 shares of the company’s stock after buying an additional 27,409 shares during the period. Diversify Wealth Management LLC’s holdings in Citigroup were worth $4,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of C. Valmark Advisers Inc. raised its position in Citigroup by 38.4% in the first quarter. Valmark Advisers Inc. now owns 3,080 shares of the company’s stock worth $349,000 after acquiring an additional 854 shares in the last quarter. Carnegie Investment Counsel boosted its position in shares of Citigroup by 25.7% during the 1st quarter. Carnegie Investment Counsel now owns 5,486 shares of the company’s stock worth $622,000 after purchasing an additional 1,122 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Citigroup by 292.1% during the 1st quarter. Fifth Third Bancorp now owns 566,581 shares of the company’s stock worth $64,256,000 after purchasing an additional 422,097 shares in the last quarter. WealthShield Partners LLC grew its stake in shares of Citigroup by 1.6% during the 1st quarter. WealthShield Partners LLC now owns 51,973 shares of the company’s stock worth $5,894,000 after purchasing an additional 811 shares during the period. Finally, Simplicity Wealth LLC grew its stake in shares of Citigroup by 36.0% during the 1st quarter. Simplicity Wealth LLC now owns 9,005 shares of the company’s stock worth $1,021,000 after purchasing an additional 2,382 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on C shares. Truist Financial raised their price objective on shares of Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Bank of America upped their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Barclays lifted their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Insider Buying and Selling

In related news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $140.67 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $133.71 and a two-hundred day moving average price of $122.88. Citigroup Inc. has a twelve month low of $85.61 and a twelve month high of $147.96. The company has a market capitalization of $239.92 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts expect that Citigroup Inc. will post 10.89 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a share repurchase plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.