AIA Group Ltd Purchases 37,245 Shares of Citigroup Inc. (NYSE:C)

Key Points

• AIA Group Ltd has increased its holdings in Citigroup Inc. by 37.1% in the first quarter, bringing its total shares owned to 137,543 with a value of approximately $9.76 million.
• Citigroup recently increased its quarterly dividend from $0.56 to $0.60, representing a 2.6% yield, set to be paid on August 22nd.
• Citigroup reported $1.96 earnings per share for its latest quarter, surpassing analyst expectations of $1.61, with revenue reaching $21.67 billion.

AIA Group Ltd increased its stake in Citigroup Inc. (NYSE:C - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,543 shares of the company's stock after purchasing an additional 37,245 shares during the period. AIA Group Ltd's holdings in Citigroup were worth $9,764,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital World Investors raised its stake in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares in the last quarter. Nuveen LLC bought a new stake in shares of Citigroup in the 1st quarter worth $578,100,000. Capital International Investors raised its stake in shares of Citigroup by 148.6% in the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company's stock worth $318,507,000 after buying an additional 2,704,783 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Citigroup by 13.9% in the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock worth $1,424,169,000 after buying an additional 2,467,958 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Buying and Selling at Citigroup

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

Citigroup Stock Up 0.8%

Shares of NYSE:C traded up $0.78 on Thursday, reaching $95.43. The company had a trading volume of 13,285,069 shares, compared to its average volume of 15,870,451. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90. The stock has a 50-day moving average price of $87.15 and a 200 day moving average price of $77.67. The stock has a market capitalization of $175.68 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.82 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

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 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 business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 35.45%.

Analyst Ratings Changes

A number of research firms have recently commented on C. The Goldman Sachs Group boosted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Oppenheimer lifted their target price on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. TD Cowen lifted their price target on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $96.54.

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.