Cetera Investment Advisers Purchases 53,321 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Cetera Investment Advisers increased its holdings in Citigroup Inc. by 14.1%, acquiring an additional 53,321 shares, bringing their total to 430,965 shares valued at approximately $30.6 million.
• Citigroup recently reported earnings of $1.96 per share, exceeding estimates of $1.61, with quarterly revenue hitting $21.67 billion, surpassing the projected $20.75 billion.
• The company announced a dividend increase from $0.56 to $0.60 per share, representing an annual yield of 2.50% and a payout ratio of 33.09%.

Cetera Investment Advisers lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 14.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 430,965 shares of the company's stock after acquiring an additional 53,321 shares during the quarter. Cetera Investment Advisers' holdings in Citigroup were worth $30,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of C. True Wealth Design LLC increased its holdings in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after buying an additional 119 shares in the last quarter. Continuum Advisory LLC increased its holdings in Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after buying an additional 120 shares in the last quarter. Insight Inv LLC boosted its position in Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after acquiring an additional 146 shares during the last quarter. Trust Co. of Vermont boosted its position in Citigroup by 14.3% during the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after acquiring an additional 150 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its position in Citigroup by 0.5% during the first quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock worth $2,066,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company'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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

Citigroup stock traded up $0.99 during mid-day trading on Wednesday, hitting $95.47. 2,315,908 shares of the company were exchanged, compared to its average volume of 15,864,063. The company has a market capitalization of $178.30 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. The business has a fifty day moving average of $83.13 and a 200 day moving average of $76.58. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $96.90.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 EPS. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on C. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial raised their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

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.