Generation Capital Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Key Points

• Generation Capital Management LLC purchased 17,190 shares of Citigroup Inc. for approximately $1,220,000, making it the 28th largest holding in their investment portfolio.
• Citigroup recently declared a quarterly dividend increase from $0.56 to $0.60, with an ex-dividend date set for Monday, August 4th.
• Analysts have been bullish on Citigroup, with several raising their price targets and 10 analysts assigning a "buy" rating, indicating a consensus target price of $96.54.

Generation Capital Management LLC acquired a new position in Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,190 shares of the company's stock, valued at approximately $1,220,000. Citigroup comprises about 1.1% of Generation Capital Management LLC's investment portfolio, making the stock its 28th largest holding.

Several other institutional investors have also added to or reduced their stakes in C. Capital World Investors increased its position in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. FMR LLC increased its position in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. Capital International Investors increased its holdings in Citigroup by 148.6% during the fourth quarter. Capital International Investors now owns 4,524,890 shares of the company's stock valued at $318,507,000 after buying an additional 2,704,783 shares during the period. Northern Trust Corp increased its holdings in Citigroup by 13.9% during the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after buying an additional 2,467,958 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Citigroup by 7,899.8% during the first quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock valued at $172,535,000 after buying an additional 2,400,033 shares during the period. Institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial boosted their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Bank of America upped their price objective on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Trading Down 2.0%

Shares of Citigroup stock traded down $1.86 during mid-day trading on Tuesday, hitting $90.22. The stock had a trading volume of 4,077,043 shares, compared to its average volume of 15,838,694. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a market cap of $168.50 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The firm has a 50-day moving average of $84.73 and a two-hundred day moving average of $77.05. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $96.90.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.52 EPS. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 33.09%.

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.