Sound Income Strategies LLC Purchases 25,353 Shares of Citigroup Inc. (NYSE:C)

Sound Income Strategies LLC grew its position in shares of Citigroup Inc. (NYSE:C) by 9.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 283,503 shares of the company’s stock after acquiring an additional 25,353 shares during the period. Citigroup accounts for approximately 1.3% of Sound Income Strategies LLC’s holdings, making the stock its 21st largest 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 have also recently modified their holdings of C. Massachusetts Wealth Management lifted its holdings in Citigroup by 0.5% in the 4th quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after buying an additional 192 shares during the period. Founders Capital Management raised its position in shares of Citigroup by 12.5% in the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after acquiring an additional 200 shares in the last quarter. Cowa LLC raised its position in shares of Citigroup by 3.1% in the 4th quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after acquiring an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Citigroup by 0.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock worth $1,267,000 after acquiring an additional 200 shares in the last quarter. Finally, Rossmore Private Capital raised its position in shares of Citigroup by 1.5% in the 4th quarter. Rossmore Private Capital now owns 13,800 shares of the company’s stock worth $710,000 after acquiring an additional 200 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Citigroup in a research report on Thursday, June 20th. HSBC raised their price objective on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Jefferies Financial Group raised their price objective on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Finally, StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $65.03.

Citigroup Price Performance

Shares of Citigroup stock traded down $0.33 during trading hours on Wednesday, hitting $61.25. The company’s stock had a trading volume of 12,397,124 shares, compared to its average volume of 15,079,040. The business has a 50 day moving average price of $61.85 and a two-hundred day moving average price of $57.70. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $64.98. The company has a market cap of $116.83 billion, a PE ratio of 17.97, a PEG ratio of 0.94 and a beta of 1.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders 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 dividend yield of 3.46%. Citigroup’s dividend payout ratio (DPR) is 62.72%.

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.