Citigroup Inc. (NYSE:C) Position Increased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its holdings in Citigroup by 5.5%, owning 390,867 shares valued at approximately $27.7 million as per recent SEC filings.
• Several analysts raised their price targets for Citigroup, with Truist Financial setting a new target of $99.00 and Wells Fargo increasing theirs to $115.00, maintaining a consensus rating of "Moderate Buy."
• Citigroup announced a quarterly dividend increase from $0.56 to $0.60 per share, which reflects an annualized yield of 2.6%.

Commonwealth Equity Services LLC raised its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390,867 shares of the company's stock after purchasing an additional 20,342 shares during the period. Commonwealth Equity Services LLC's holdings in Citigroup were worth $27,748,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in shares of Citigroup during the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup during the first quarter valued at $28,000. American National Bank & Trust acquired a new position in shares of Citigroup during the first quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at $34,000. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Citigroup by 805.2% during the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock valued at $37,000 after acquiring an additional 467 shares during the period. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Morgan Stanley boosted their price target on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Wells Fargo & Company upped their price objective on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and an average target price of $96.54.

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 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 transaction, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Price Performance

NYSE C opened at $91.52 on Wednesday. The stock's 50-day moving average price is $85.06 and its two-hundred day moving average price is $77.15. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The company has a market cap of $170.93 billion, a PE ratio of 13.52, a PEG ratio of 0.79 and a beta of 1.38. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion for 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 firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Citigroup 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.

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