DCF Advisers LLC Has $2.66 Million Stock Position in Citigroup Inc. (NYSE:C)

Key Points

• DCF Advisers LLC reduced its holdings in Citigroup Inc. by 16.7%, selling 7,500 shares and retaining 37,500 shares, which are now valued at approximately $2.66 million.
• Citigroup reported $1.96 earnings per share (EPS) for the last quarter, exceeding estimates, with revenues of $21.67 billion, marking an 8.2% increase year-over-year.
• The company announced a quarterly dividend increase to $0.60 per share, representing a dividend yield of 2.6%, with the next payment scheduled for August 22nd.

DCF Advisers LLC lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,500 shares of the company's stock after selling 7,500 shares during the period. Citigroup accounts for approximately 1.3% of DCF Advisers LLC's investment portfolio, making the stock its 27th biggest position. DCF Advisers LLC's holdings in Citigroup were worth $2,662,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after purchasing an additional 119 shares in the last quarter. Continuum Advisory LLC grew its position in Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after purchasing an additional 120 shares during the last quarter. Insight Inv LLC grew its position in Citigroup by 0.5% during the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after purchasing an additional 146 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Citigroup by 14.3% in the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock valued at $85,000 after acquiring an additional 150 shares in the last quarter. Finally, Mystic Asset Management Inc. boosted its holdings in shares of Citigroup by 0.5% in the first quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock valued at $2,066,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Truist Financial boosted their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Barclays boosted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. 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, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Price Performance

Shares of NYSE:C traded down $1.49 during trading hours on Tuesday, hitting $90.59. 3,388,971 shares of the company's stock traded hands, compared to its average volume of 15,826,964. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90. 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's fifty day simple moving average is $84.73 and its two-hundred day simple moving average is $77.05. The company has a market cap of $169.20 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $20.75 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is currently 33.09%.

Insider Activity

In other 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 directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

About Citigroup

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.