8,070 Shares in Citigroup Inc. (NYSE:C) Purchased by Asset Planning Inc

Key Points

• Asset Planning Inc has invested approximately $573,000 in Citigroup by acquiring 8,070 shares, indicating confidence in the company's stock.
• Citigroup recently reported strong quarterly earnings with an EPS of $1.96, surpassing analyst expectations, along with an 8.2% increase in revenue year-over-year.
• The company announced an increase in its quarterly dividend to $0.60 per share, reflecting a positive outlook and commitment to returning value to shareholders.

Asset Planning Inc bought a new position in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,070 shares of the company's stock, valued at approximately $573,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of C. Private Advisory Group LLC increased its stake in shares of Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares in the last quarter. Invesco Ltd. increased its stake in Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after buying an additional 1,970,300 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after acquiring an additional 649,807 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in shares of Citigroup in the first quarter worth approximately $214,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler lifted their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research report on Monday, July 7th. Cowen began coverage on shares of Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Finally, TD Cowen boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Six equities 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, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Stock Performance

NYSE C traded up $0.20 during trading hours on Monday, hitting $92.03. 11,609,878 shares of the stock were exchanged, compared to its average volume of 16,722,995. 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 company has a market cap of $171.89 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $96.90. The stock has a 50-day moving average of $84.36 and a 200 day moving average of $76.96.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $20.75 billion. During the same period in the prior year, the business posted $1.52 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 33.09%.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the business'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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

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.