Allegiance Financial Group Advisory Services LLC Purchases Shares of 3,779 Citigroup Inc. (NYSE:C)

Allegiance Financial Group Advisory Services LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,779 shares of the company's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of C. Norges Bank purchased a new stake in Citigroup in the 4th quarter valued at $1,935,599,000. Capital World Investors raised its position in Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. FMR LLC raised its position in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its position 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 buying an additional 2,804,850 shares during the last quarter. Finally, Capital International Investors raised its position in Citigroup by 148.6% in the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company's stock valued at $318,507,000 after buying an additional 2,704,783 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE:C traded up $0.14 on Friday, hitting $93.23. The company's stock had a trading volume of 4,350,933 shares, compared to its average volume of 15,872,632. The company has a 50-day simple moving average of $79.99 and a 200 day simple moving average of $75.29. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $93.80. The company has a market capitalization of $174.13 billion, a PE ratio of 13.77, a PEG ratio of 0.70 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion for 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%. Citigroup's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $1.52 EPS. Sell-side analysts forecast 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 given a dividend of $0.60 per share. 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. This represents a $2.40 annualized dividend and a dividend yield of 2.57%. Citigroup's payout ratio is currently 33.09%.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction 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 approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on C. Oppenheimer set a $123.00 price objective on Citigroup and gave the company an "outperform" rating in a research note on Wednesday. Bank of America upped their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Morgan Stanley increased their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wells Fargo & Company increased their price target on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Evercore ISI set a $77.00 price target on Citigroup in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $96.46.

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.

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