ACR Alpine Capital Research LLC Trims Position in Citigroup Inc. (NYSE:C)

ACR Alpine Capital Research LLC lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,177,452 shares of the company's stock after selling 582,676 shares during the quarter. Citigroup comprises approximately 7.7% of ACR Alpine Capital Research LLC's portfolio, making the stock its 5th largest holding. ACR Alpine Capital Research LLC owned approximately 0.28% of Citigroup worth $367,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after buying an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Citigroup by 2.2% in 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 acquiring an additional 815,003 shares during the last quarter. FMR LLC grew its holdings in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its position in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Capital World Investors grew its stake in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of recent research reports. Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Bank of America lifted their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Morgan Stanley increased their price target on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Barclays upped their price objective on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $96.46.

Citigroup Stock Up 0.7%

NYSE C traded up $0.65 during mid-day trading on Friday, reaching $96.04. The stock had a trading volume of 13,537,763 shares, compared to its average volume of 16,283,003. The company has a fifty day moving average price of $82.36 and a 200 day moving average price of $76.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $96.90. The stock has a market cap of $179.37 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.34.

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

Citigroup Increases Dividend

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 33.09%.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company's 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 completion of the sale, the director directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 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 disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

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.