Citigroup Inc. (NYSE:C) is Pzena Investment Management LLC's 9th Largest Position

Pzena Investment Management LLC lowered its stake in Citigroup Inc. (NYSE:C - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,332,140 shares of the company's stock after selling 402,041 shares during the period. Citigroup makes up 3.3% of Pzena Investment Management LLC's holdings, making the stock its 9th biggest holding. Pzena Investment Management LLC owned 0.71% of Citigroup worth $946,449,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new stake in Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new stake in Citigroup in the first quarter valued at about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the first quarter valued at about $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup during the fourth quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Citigroup by 68.2% during the first quarter. Cornerstone Planning Group LLC now owns 577 shares of the company's stock valued at $38,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on C shares. Barclays lifted their price target on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lowered their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, UBS Group restated a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.46.

Insiders Place Their Bets

In other Citigroup 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 transaction, the director directly owned 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% 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.

Citigroup Stock Performance

C stock traded up $0.35 during midday trading on Friday, hitting $93.44. The company's stock had a trading volume of 16,590,582 shares, compared to its average volume of 14,679,742. The stock's 50-day moving average price is $79.99 and its 200 day moving average price is $75.29. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $93.79. The stock has a market cap of $174.52 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.70 and a beta of 1.34.

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

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup's payout ratio is presently 33.09%.

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.