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Davis R M Inc. Buys Shares of 2,852 Citigroup Inc. (NYSE:C)

Citigroup logo with Financial Services background

Key Points

  • Davis R M Inc. has acquired a new position in Citigroup Inc., purchasing 2,852 shares valued at approximately $202,000.
  • Citigroup has announced an increase in its quarterly dividend to $0.60, reflecting a positive change from its previous dividend and resulting in an annual yield of 2.6%.
  • Wall Street analysts are optimistic about Citigroup's outlook, with Barclays and Truist Financial raising their target prices to $100.00 and $99.00 respectively, indicating a consensus rating of "Moderate Buy."
  • Interested in Citigroup? Here are five stocks we like better.

Davis R M Inc. purchased a new position in Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,852 shares of the company's stock, valued at approximately $202,000.

A number of other institutional investors also recently made changes to their positions in C. Brighton Jones LLC lifted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. OneAscent Financial Services LLC lifted its stake in shares of Citigroup by 9.8% in the 4th quarter. OneAscent Financial Services LLC now owns 4,425 shares of the company's stock worth $312,000 after acquiring an additional 395 shares during the period. World Investment Advisors lifted its stake in shares of Citigroup by 24.1% in the 4th quarter. World Investment Advisors now owns 26,706 shares of the company's stock worth $1,880,000 after acquiring an additional 5,179 shares during the period. Yoffe Investment Management LLC acquired a new stake in Citigroup during the fourth quarter valued at approximately $235,000. Finally, Integrated Quantitative Investments LLC acquired a new stake in Citigroup during the fourth quarter valued at approximately $415,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Down 2.0%

Shares of NYSE:C opened at $91.84 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The company has a market cap of $171.53 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The firm has a 50 day simple moving average of $84.36 and a 200 day simple moving average of $76.98.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is currently 33.09%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on C shares. Barclays increased their target price on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Truist Financial increased their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. UBS Group reissued a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Oppenheimer increased their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $96.54.

View Our Latest Stock Analysis on C

Citigroup Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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