Trajan Wealth LLC Raises Stock Position in Citigroup Inc. (NYSE:C)

Key Points

• Trajan Wealth LLC significantly increased its stake in Citigroup by 584%, acquiring a total of 76,238 shares valued at approximately $5.4 million.
• Citigroup recently reported $1.96 earnings per share for the last quarter, exceeding analyst expectations, along with an impressive 8.2% year-over-year revenue growth.
• The company announced a quarterly dividend increase to $0.60 per share, reflecting a 2.6% yield and signaling confidence in its financial stability.

Trajan Wealth LLC raised its position in Citigroup Inc. (NYSE:C - Free Report) by 584.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,238 shares of the company's stock after acquiring an additional 65,092 shares during the quarter. Trajan Wealth LLC's holdings in Citigroup were worth $5,412,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Global Advisors LLC lifted its stake in shares of Citigroup by 453.2% during the 1st quarter. Eagle Global Advisors LLC now owns 17,150 shares of the company's stock worth $1,217,000 after buying an additional 14,050 shares during the last quarter. AIA Group Ltd increased its position in Citigroup by 37.1% during the first quarter. AIA Group Ltd now owns 137,543 shares of the company's stock worth $9,764,000 after acquiring an additional 37,245 shares during the period. Longfellow Investment Management Co. LLC increased its position in Citigroup by 15.1% during the first quarter. Longfellow Investment Management Co. LLC now owns 24,681 shares of the company's stock worth $1,752,000 after acquiring an additional 3,243 shares during the period. Independent Advisor Alliance increased its position in Citigroup by 5.8% during the first quarter. Independent Advisor Alliance now owns 85,660 shares of the company's stock worth $6,081,000 after acquiring an additional 4,704 shares during the period. Finally, Staley Capital Advisers Inc. increased its position in Citigroup by 0.6% during the first quarter. Staley Capital Advisers Inc. now owns 341,265 shares of the company's stock worth $24,226,000 after acquiring an additional 2,183 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on C shares. The Goldman Sachs Group raised their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Truist Financial lifted 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Performance

C traded down $1.80 during trading on Friday, hitting $93.66. 11,286,845 shares of the company traded hands, compared to its average volume of 15,843,360. The firm has a market cap of $172.42 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. The stock's fifty day moving average is $87.52 and its 200 day moving average is $77.76. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a one year low of $55.51 and a one year high of $96.90.

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. The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders 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 dividend yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is 35.45%.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.