R Squared Ltd Sells 8,940 Shares of Citigroup Inc. (NYSE:C)

Key Points

• R Squared Ltd has significantly reduced its holdings in Citigroup by 72.7%, ending the first quarter with 3,350 shares valued at $238,000 after selling 8,940 shares.
• Citigroup announced an increase in its quarterly dividend from $0.56 to $0.60 per share, with a payout ratio of 33.09% and a dividend yield of 2.6%.
• Citigroup's recent earnings report showed earnings per share of $1.96, surpassing analysts' expectations by $0.35, and a revenue of $21.67 billion, which was above the forecasted $20.75 billion.

R Squared Ltd lessened its position in Citigroup Inc. (NYSE:C - Free Report) by 72.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,350 shares of the company's stock after selling 8,940 shares during the quarter. R Squared Ltd's holdings in Citigroup were worth $238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new stake in Citigroup during the 1st quarter valued at $28,000. American National Bank & Trust acquired a new stake in Citigroup during the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $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 worth $37,000 after purchasing an additional 467 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on C. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Evercore ISI set a $77.00 price objective on Citigroup in a report on Monday, July 7th. Cowen began coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Royal Bank Of Canada reduced their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group boosted their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

NYSE:C traded up $0.35 during mid-day trading on Wednesday, hitting $91.87. The company's stock had a trading volume of 4,699,087 shares, compared to its average volume of 15,868,777. 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 capitalization of $171.60 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.79 and a beta of 1.38. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The stock has a fifty day moving average of $85.06 and a 200-day moving average of $77.15.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. As a group, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal 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 issued a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's dividend payout ratio (DPR) is 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.