Bright Futures Wealth Management LLC. Buys Shares of 6,076 Citigroup Inc. (NYSE:C)

Bright Futures Wealth Management LLC. acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 6,076 shares of the company’s stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC purchased a new position in Citigroup in the fourth quarter worth $29,000. Beacon Capital Management LLC increased its stake in Citigroup by 85.5% in the first 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 raised its position in Citigroup by 1,962.1% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after purchasing an additional 569 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Citigroup during the fourth quarter worth about $35,000. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on C shares. Argus increased their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley lifted their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Jefferies Financial Group lifted their target price on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, 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 research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

Citigroup Stock Down 7.1 %

C stock traded down $4.52 during midday trading on Friday, hitting $58.76. The stock had a trading volume of 30,289,346 shares, compared to its average volume of 13,975,021. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. The firm has a market cap of $112.08 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The business has a 50-day moving average of $63.03 and a two-hundred day moving average of $60.20. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $1.37 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.56 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, August 5th. Citigroup’s dividend payout ratio is currently 59.38%.

Citigroup Company 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.