Cambridge Investment Research Advisors Inc. Increases Stock Position in Citigroup Inc. (NYSE:C)

Cambridge Investment Research Advisors Inc. increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,492 shares of the company's stock after purchasing an additional 15,238 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Citigroup were worth $11,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares in the last quarter. FMR LLC increased its position in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Franklin Resources Inc. raised its stake in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors raised its stake in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Up 1.8%

Citigroup stock traded up $1.50 during mid-day trading on Wednesday, hitting $82.64. 13,093,005 shares of the stock were exchanged, compared to its average volume of 14,514,861. The stock has a market capitalization of $154.35 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.61 and a beta of 1.33. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm's fifty day simple moving average is $73.27 and its two-hundred day simple moving average is $73.38.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is 35.39%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on C shares. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Citigroup in a research report on Tuesday. Piper Sandler reissued an "overweight" rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. TD Cowen started coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a report on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.30.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup 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 completion of the sale, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.