LGT Group Foundation Acquires 42,346 Shares of Citigroup Inc. (NYSE:C)

Key Points

• LGT Group Foundation has increased its stake in Citigroup Inc. by 17.6% to a total of 282,534 shares, valued at approximately $20.06 million.
• Citigroup reported a quarterly earnings per share (EPS) of $1.96, exceeding analysts' expectations of $1.61, alongside a revenue of $21.67 billion.
• The company announced an increased dividend of $0.60 per share, up from $0.56, representing an annualized dividend yield of 2.6%.

LGT Group Foundation increased its position in Citigroup Inc. (NYSE:C - Free Report) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,534 shares of the company's stock after purchasing an additional 42,346 shares during the period. LGT Group Foundation's holdings in Citigroup were worth $20,057,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Citigroup in the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup during the 1st quarter valued at $28,000. American National Bank & Trust purchased a new stake in Citigroup in the 1st quarter worth about $29,000. Accent Capital Management LLC increased its holdings in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in Citigroup in the 4th quarter worth about $34,000. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

C has been the subject of several recent research reports. TD Cowen lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. UBS Group reissued a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Barclays lifted their price objective on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price objective on Citigroup in a report on Monday, July 7th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Price Performance

NYSE C traded up $0.78 during trading hours on Thursday, hitting $95.43. The company had a trading volume of 13,285,484 shares, compared to its average volume of 15,814,221. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90. The firm has a 50 day simple moving average of $87.52 and a 200 day simple moving average of $77.76. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $175.68 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the company earned $1.52 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup's dividend payout ratio is 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

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.