Citigroup Inc. (NYSE:C) Shares Acquired by Private Advisory Group LLC

Key Points

• Private Advisory Group LLC increased its stake in Citigroup by 20.8%, holding 69,581 shares valued at approximately $4.94 million at the end of the first quarter.
• Citigroup recently declared a quarterly dividend increase to $0.60 per share, up from $0.56, with a dividend yield of 2.50% and a payout ratio of 33.09%.
• Citigroup reported a quarterly profit of $1.96 EPS, surpassing estimates and reflecting an 8.2% revenue growth compared to the same quarter last year.

Private Advisory Group LLC boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 20.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,581 shares of the company's stock after buying an additional 11,978 shares during the quarter. Private Advisory Group LLC's holdings in Citigroup were worth $4,940,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Brighton Jones LLC lifted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Citigroup by 109.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after acquiring an additional 649,807 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in Citigroup in the 1st quarter worth approximately $214,000. Finally, Pinnacle Financial Partners Inc increased its holdings in Citigroup by 495.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after acquiring an additional 15,436 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction 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 sale, the director owned 2,140 shares in the company, valued at $193,456. This trade 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 at this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

Shares of NYSE C traded down $1.86 during midday trading on Friday, reaching $91.84. 17,720,586 shares of the stock traded hands, compared to its average volume of 15,836,717. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market capitalization of $171.53 billion, a PE ratio of 13.57, a P/E/G ratio of 0.81 and a beta of 1.38. Citigroup Inc. has a one year low of $53.51 and a one year high of $96.90. The company's 50 day moving average is $84.36 and its 200 day moving average is $76.98.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is currently 33.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on C. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. TD Cowen increased their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Barclays increased their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday, July 7th. Finally, The Goldman Sachs Group increased their target price on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Citigroup currently has an average 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.