Atria Wealth Solutions Inc. Trims Stock Position in Citigroup Inc. (NYSE:C)

Atria Wealth Solutions Inc. decreased its position in shares of Citigroup Inc. (NYSE:C) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 134,747 shares of the company’s stock after selling 10,774 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Citigroup were worth $8,551,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new position in shares of Citigroup in the 4th quarter valued at approximately $29,000. Beacon Capital Management LLC increased its holdings in shares of 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 purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC raised its stake in shares of 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 last quarter. Finally, Triad Wealth Partners LLC acquired a new position in Citigroup in the 2nd quarter valued at $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 1.3 %

NYSE C traded down $0.77 during mid-day trading on Wednesday, reaching $60.54. 14,411,254 shares of the stock were exchanged, compared to its average volume of 14,893,927. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The stock has a market capitalization of $115.48 billion, a PE ratio of 16.96, a PEG ratio of 0.68 and a beta of 1.46. The business’s fifty day simple moving average is $62.32 and its 200 day simple moving average is $60.66. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.95 and a current ratio of 0.94.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the prior year, the business posted $1.37 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.70%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Royal Bank of Canada boosted their price target on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets boosted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

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.