4,986 Shares in Citigroup Inc. (NYSE:C) Purchased by Nicholas Hoffman & Company LLC.

Key Points

• Nicholas Hoffman & Company LLC acquired 4,986 shares of Citigroup, valued at approximately $354,000, during the first quarter, contributing to a trend of increased institutional investment in the company.
• Citigroup's most recent quarterly earnings exceeded estimates with an EPS of $1.96, surpassing the expected $1.61, and revenue rose 8.2% year-over-year to $21.67 billion.
• The company announced a quarterly dividend increase to $0.60 per share, representing a 2.6% yield, up from the previous $0.56, with a payout ratio of 35.45%.

Nicholas Hoffman & Company LLC. bought a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,986 shares of the company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Advisory Group LLC lifted its holdings in Citigroup by 20.8% in the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after acquiring an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC increased 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 valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $214,000. Finally, Pinnacle Financial Partners Inc boosted its holdings in Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after buying an additional 15,436 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. TD Cowen upped their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Evercore ISI set a $77.00 price objective on Citigroup in a research report on Monday, July 7th. Finally, Truist Financial increased their target price on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Stock Up 0.8%

C stock opened at $92.24 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $85.40 and a two-hundred day moving average of $77.25. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The company has a market cap of $172.28 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.79 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. 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 firm earned $1.52 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is presently 35.45%.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company's stock.

Citigroup 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.

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