Cary Street Partners Financial LLC Buys 4,311 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Cary Street Partners Financial LLC increased its stake in Citigroup by 16.5%, acquiring an additional 4,311 shares to own a total of 30,512 shares valued at $2,166,000.
• Citigroup recently announced a quarterly dividend of $0.60 per share, which represents an increase from the previous dividend of $0.56, yielding an annualized rate of $2.40.
• The company reported $1.96 EPS for its latest quarter, surpassing analysts' estimates, with a revenue of $21.67 billion, an increase of 8.2% year-over-year.

Cary Street Partners Financial LLC boosted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 16.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,512 shares of the company's stock after buying an additional 4,311 shares during the quarter. Cary Street Partners Financial LLC's holdings in Citigroup were worth $2,166,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in C. New Age Alpha Advisors LLC lifted its position in shares of Citigroup by 111.3% in the 1st quarter. New Age Alpha Advisors LLC now owns 141,045 shares of the company's stock worth $10,013,000 after purchasing an additional 74,292 shares during the period. Accent Capital Management LLC raised its stake in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in Citigroup by 1.9% in the first quarter. Seelaus Asset Management LLC now owns 12,102 shares of the company's stock valued at $859,000 after buying an additional 226 shares during the period. MWA Asset Management lifted its holdings in Citigroup by 4.7% in the first quarter. MWA Asset Management now owns 14,855 shares of the company's stock valued at $1,055,000 after buying an additional 672 shares during the period. Finally, Solitude Financial Services boosted its position in Citigroup by 0.9% during the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 0.8%

Shares of Citigroup stock opened at $92.24 on Thursday. The company has a market capitalization of $172.28 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The stock has a fifty day simple moving average of $85.40 and a 200 day simple moving average of $77.25. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $96.90. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. On average, sell-side analysts anticipate 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. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 35.45%.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on C shares. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. TD Cowen lifted their target price on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. UBS Group reissued a "neutral" rating and issued a $89.00 price target on shares of Citigroup in a research note on Tuesday, July 15th. Morgan Stanley raised their price objective on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

About Citigroup

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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