Archer Investment Corp Acquires 7,301 Shares of Citigroup Inc. (NYSE:C)

Archer Investment Corp lifted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 1,375.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,832 shares of the company's stock after buying an additional 7,301 shares during the quarter. Archer Investment Corp's holdings in Citigroup were worth $556,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised 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 buying an additional 12,499 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $274,000. Tocqueville Asset Management L.P. boosted its holdings in Citigroup by 194.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 16,740 shares of the company's stock worth $1,178,000 after acquiring an additional 11,051 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Citigroup by 0.5% in the fourth quarter. Advisors Asset Management Inc. now owns 62,159 shares of the company's stock worth $4,375,000 after acquiring an additional 287 shares during the last quarter. Finally, Evoke Wealth LLC bought a new position in shares of Citigroup during the fourth quarter valued at $226,000. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE C traded down $0.32 during midday trading on Friday, hitting $92.77. The company had a trading volume of 2,841,685 shares, compared to its average volume of 14,627,143. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $79.99 and a two-hundred day simple moving average of $75.29. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $93.79. The stock has a market cap of $173.27 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.70 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period last year, the firm posted $1.52 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio is presently 33.09%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the subject of several research analyst reports. Oppenheimer set a $123.00 price target on Citigroup and gave the company an "outperform" rating in a report on Wednesday. UBS Group restated a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday. Truist Financial upped their price target on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research report on Wednesday. Finally, Wall Street Zen cut Citigroup from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.46.

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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