Atlantic Union Bankshares Corp Purchases 12,040 Shares of Citigroup Inc. (NYSE:C)

Atlantic Union Bankshares Corp grew its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,507 shares of the company's stock after purchasing an additional 12,040 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Citigroup were worth $8,768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in Citigroup in the 4th quarter worth approximately $1,935,599,000. Capital World Investors lifted its holdings in 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 during the period. FMR LLC lifted its holdings in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the period. Franklin Resources Inc. lifted its holdings in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after buying an additional 2,804,850 shares during the period. Finally, Capital International Investors lifted its holdings in 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 during the period. 71.72% of the stock is currently owned by institutional investors.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction 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 sale, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were 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 in the company, valued at $890,656.48. This trade represents 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.

Citigroup Trading Up 0.4%

Shares of C stock opened at $93.44 on Friday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $93.80. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The stock's 50 day simple moving average is $80.43 and its two-hundred day simple moving average is $75.48. The company has a market cap of $174.52 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm 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%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.57%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 35.45%.

Analyst Upgrades and Downgrades

C has been the subject of a number of research analyst reports. UBS Group restated a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Oppenheimer set a $123.00 target price on Citigroup and gave the company an "outperform" rating in a research note on Wednesday. Royal Bank Of Canada lowered their target price on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Finally, Morgan Stanley lifted their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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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