Parkside Investments LLC Has $7.75 Million Position in Citigroup Inc. (NYSE:C)

Parkside Investments LLC raised its stake in Citigroup Inc. (NYSE:C) by 12.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 122,474 shares of the company’s stock after buying an additional 13,765 shares during the period. Parkside Investments LLC’s holdings in Citigroup were worth $7,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in Citigroup during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC bought a new stake in Citigroup during the fourth quarter worth about $29,000. Beaird Harris Wealth Management LLC lifted 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 worth $31,000 after purchasing an additional 569 shares during the period. Rakuten Securities Inc. bought a new stake in Citigroup during the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Citigroup during the fourth quarter worth about $39,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 1.3 %

Shares of C stock traded down $0.78 during trading hours on Wednesday, hitting $60.80. 3,966,385 shares of the company were exchanged, compared to its average volume of 15,009,936. The company has a 50 day simple moving average of $61.85 and a two-hundred day simple moving average of $57.70. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $64.98. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $115.97 billion, a P/E ratio of 18.22, a P/E/G ratio of 0.94 and a beta of 1.48.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $20.46 billion. During the same quarter last year, the firm posted $1.86 EPS. Citigroup’s revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, May 3rd. Citigroup’s payout ratio is currently 62.72%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI increased their target price on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Piper Sandler increased their target price on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, April 1st. HSBC raised their price objective on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Citigroup in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $65.03.

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.