Advisor Resource Council Makes New Investment in Citigroup Inc. (NYSE:C)

Advisor Resource Council acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 36,392 shares of the company's stock, valued at approximately $2,397,000.

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Citigroup during the fourth quarter worth about $1,935,599,000. Capital World Investors boosted its position in 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 last quarter. FMR LLC boosted its position in 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 last quarter. Raymond James Financial Inc. purchased a new stake in Citigroup in the 4th quarter worth approximately $198,231,000. Finally, Franklin Resources Inc. raised its holdings in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on C shares. The Goldman Sachs Group raised their price objective on Citigroup from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Evercore ISI decreased their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Piper Sandler reissued an "overweight" rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.30.

Citigroup Trading Up 0.1%

C stock traded up $0.04 during midday trading on Friday, reaching $78.39. 17,313,525 shares of the company's stock traded hands, compared to its average volume of 14,510,149. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The business has a 50-day moving average price of $72.60 and a two-hundred day moving average price of $73.27. The company has a market capitalization of $146.41 billion, a P/E ratio of 12.39, a PEG ratio of 0.60 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio is presently 35.39%.

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.