Spectrum Financial Alliance Ltd LLC Purchases 34,641 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Spectrum Financial Alliance Ltd LLC has increased its investment in Citigroup Inc. by 6.0%, making Citigroup its 3rd largest holding, valued at approximately $43.5 million.
• Multiple brokerages have adjusted their price targets for Citigroup, with Wells Fargo revising theirs from $110 to $115, while JPMorgan Chase lowered theirs from $85.50 to $75.50.
• Citigroup announced a quarterly dividend increase to $0.60 per share, up from the previous $0.56, reflecting a yield of 2.50% and a payout ratio of 33.09%.

Spectrum Financial Alliance Ltd LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612,964 shares of the company's stock after buying an additional 34,641 shares during the quarter. Citigroup makes up approximately 14.1% of Spectrum Financial Alliance Ltd LLC's investment portfolio, making the stock its 3rd largest position. Spectrum Financial Alliance Ltd LLC's holdings in Citigroup were worth $43,514,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in C. Orion Capital Management LLC acquired a new position in Citigroup in the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the 1st quarter valued at $28,000. American National Bank & Trust acquired a new position in Citigroup in the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. purchased a new stake in Citigroup in the 4th quarter valued at $34,000. Finally, Whipplewood Advisors LLC grew its holdings in Citigroup by 79.2% in the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after buying an additional 252 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on C shares. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Royal Bank Of Canada lowered their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $96.46.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

Shares of NYSE C traded down $0.50 during trading on Monday, reaching $95.57. The company had a trading volume of 19,368,724 shares, compared to its average volume of 15,866,557. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $96.90. The stock has a market capitalization of $178.50 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.34. The stock has a 50-day moving average price of $82.36 and a two-hundred day moving average price of $76.29. 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 released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.51%. 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%.

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.