Brookwood Investment Group LLC Buys Shares of 3,217 Citigroup Inc. (NYSE:C)

Key Points

• Brookwood Investment Group LLC has made a new investment in Citigroup Inc., purchasing 3,217 shares valued at approximately $228,000.
• Citigroup recently upgraded its quarterly dividend from $0.56 to $0.60 per share, reflecting a 2.50% dividend yield.
• Analysts have shown a positive outlook on Citigroup's stock, with a consensus target price of $96.46 and numerous upgrades to "buy" ratings.

Brookwood Investment Group LLC bought a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,217 shares of the company's stock, valued at approximately $228,000.

A number of other large investors have also modified their holdings of C. Brighton Jones LLC increased its position in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. American Century Companies Inc. grew its stake in shares of Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock worth $24,844,000 after purchasing an additional 11,674 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Citigroup by 20.3% during the fourth quarter. WINTON GROUP Ltd now owns 8,266 shares of the company's stock worth $582,000 after purchasing an additional 1,395 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in shares of Citigroup by 40,603.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 66,753 shares of the company's stock worth $4,699,000 after purchasing an additional 66,589 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Citigroup by 19.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 874,714 shares of the company's stock worth $61,571,000 after purchasing an additional 145,218 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 1.0%

Shares of NYSE:C traded up $0.99 during midday trading on Wednesday, hitting $95.47. 2,315,908 shares of the company's stock traded hands, compared to its average volume of 15,864,063. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The company has a market cap of $178.30 billion, a PE ratio of 14.10, a P/E/G ratio of 0.82 and a beta of 1.34. The firm's fifty day moving average price is $83.13 and its two-hundred day moving average price is $76.58. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $96.90.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.51%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 33.09%.

Analyst Ratings Changes

Several equities analysts have issued reports on C shares. Royal Bank Of Canada decreased their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. TD Cowen upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Piper Sandler increased their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.54.

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 shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Company 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.