Advisor OS LLC Invests $266,000 in Citigroup Inc. (NYSE:C)

Key Points

• Advisor OS LLC has made a new investment in Citigroup Inc., acquiring 3,750 shares for approximately $266,000 during the first quarter of the year.
• Several institutional investors have increased their stakes in Citigroup, with notable purchases including Kovack Advisors Inc. and Diamond Hill Capital Management Inc..
• Citigroup has increased its quarterly dividend from $0.56 to $0.60, resulting in an annualized dividend of $2.40 and a dividend yield of 2.50%.

Advisor OS LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,750 shares of the company's stock, valued at approximately $266,000.

A number of other hedge funds also recently made changes to their positions in C. Orion Capital Management LLC bought a new stake in Citigroup during the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the first quarter valued at $28,000. American National Bank & Trust bought a new stake in Citigroup during the first quarter valued at $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup during the fourth quarter valued at $34,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Citigroup by 68.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 577 shares of the company's stock worth $38,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred 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 owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director directly owned 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen increased their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada reduced their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. UBS Group reissued a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Bank of America boosted their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Six research 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 price target of $96.46.

Citigroup Stock Up 0.7%

Shares of NYSE C traded up $0.65 during trading hours on Friday, hitting $96.04. The stock had a trading volume of 13,537,763 shares, compared to its average volume of 16,283,003. The company has a market capitalization of $179.37 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.83 and a beta of 1.34. The firm's 50-day moving average price is $82.36 and its two-hundred day moving average price is $76.27. Citigroup Inc. has a 52 week low of $53.51 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.

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 the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 EPS. Analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.50%. Citigroup's payout ratio is presently 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.