Chesley Taft & Associates LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Chesley Taft & Associates LLC grew its position in Citigroup Inc. (NYSE:C - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,781 shares of the company's stock after purchasing an additional 44,842 shares during the period. Chesley Taft & Associates LLC's holdings in Citigroup were worth $8,148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Core Alternative Capital lifted its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup in the first quarter valued at about $29,000. Mascagni Wealth Management Inc. bought a new position in Citigroup during the fourth quarter worth about $34,000. Finally, Creative Capital Management Investments LLC bought a new stake in Citigroup in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of C stock traded up $1.65 during trading hours on Friday, hitting $78.32. 11,514,514 shares of the company were exchanged, compared to its average volume of 14,550,631. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a fifty day simple moving average of $69.27 and a 200 day simple moving average of $72.66. The stock has a market capitalization of $146.28 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale 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 company insiders.

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Oppenheimer reissued an "outperform" rating on shares of Citigroup in a report on Tuesday, May 20th. 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 report on Wednesday, April 16th. TD Cowen began coverage on Citigroup in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Truist Financial decreased their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.97.

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.