Davis Investment Partners LLC Buys 7,295 Shares of Citigroup Inc. (NYSE:C)

Davis Investment Partners LLC lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 258.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,122 shares of the company's stock after acquiring an additional 7,295 shares during the period. Davis Investment Partners LLC's holdings in Citigroup were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on C shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Cowen began coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Citigroup from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.30.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

Citigroup Trading Down 2.5%

Shares of C traded down $1.93 on Friday, reaching $76.30. 11,986,532 shares of the company's stock were exchanged, compared to its average volume of 14,546,749. The stock has a market capitalization of $142.51 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The business has a 50 day moving average price of $71.01 and a two-hundred day moving average price of $73.05. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

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

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio is 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.