Citigroup Inc. (NYSE:C) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 76.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,338 shares of the company's stock after acquiring an additional 13,606 shares during the quarter. Griffin Asset Management Inc.'s holdings in Citigroup were worth $2,225,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Citigroup during the 4th quarter worth approximately $28,000. American National Bank & Trust purchased a new position in shares of Citigroup in the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the 4th quarter valued at $34,000. Creative Capital Management Investments LLC acquired a new stake in Citigroup in the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new position in Citigroup in the fourth quarter valued at about $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

C has been the topic of several analyst reports. Bank of America dropped their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Cowen initiated coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.30.

Citigroup Stock Performance

Shares of NYSE:C traded down $0.70 during trading on Tuesday, hitting $77.37. 7,854,794 shares of the company traded hands, compared to its average volume of 14,503,557. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business's fifty day moving average is $71.39 and its 200-day moving average is $73.10. The stock has a market capitalization of $144.51 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. As a group, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.90%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

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.