Cheviot Value Management LLC Buys New Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Cheviot Value Management LLC acquired a new stake in Citigroup, purchasing 2,783 shares valued at approximately $195,000 in the first quarter.
• Citigroup's recent quarterly earnings report showed earnings per share of $1.96, exceeding analysts' estimates and reflecting a year-over-year revenue increase of 8.2%.
• The company announced a dividend increase, raising its quarterly payment from $0.56 to $0.60 per share, resulting in a current yield of 2.6%.

Cheviot Value Management LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,783 shares of the company's stock, valued at approximately $195,000.

Several other institutional investors and hedge funds also recently made changes to their positions in C. Brighton Jones LLC raised its holdings in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. World Investment Advisors increased its position in shares of Citigroup by 24.1% during the fourth quarter. World Investment Advisors now owns 26,706 shares of the company's stock worth $1,880,000 after acquiring an additional 5,179 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new position in Citigroup during the fourth quarter worth about $415,000. Resona Asset Management Co. Ltd. purchased a new stake in Citigroup during the fourth quarter worth about $44,659,000. Finally, Cullen Capital Management LLC raised its stake in Citigroup by 33.8% in the 4th quarter. Cullen Capital Management LLC now owns 2,963,825 shares of the company's stock valued at $208,624,000 after acquiring an additional 747,974 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE C traded down $1.50 during trading on Tuesday, reaching $90.58. The company had a trading volume of 3,388,971 shares, compared to its average volume of 15,826,964. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market cap of $169.17 billion, a PE ratio of 13.38, a PEG ratio of 0.79 and a beta of 1.38. The business's 50 day moving average price is $84.73 and its 200-day moving average price is $77.05.

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

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is 33.09%.

Insider Buying and Selling

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on C. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. TD Cowen upped their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group upped their price objective on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

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.