Edgemoor Investment Advisors Inc. Buys 5,295 Shares of Citigroup Inc. (NYSE:C)

Edgemoor Investment Advisors Inc. lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,950 shares of the company's stock after acquiring an additional 5,295 shares during the quarter. Edgemoor Investment Advisors Inc.'s holdings in Citigroup were worth $10,219,000 at the end of the most recent reporting period.

Several 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. MorganRosel Wealth Management LLC bought a new position in Citigroup in the first quarter valued at approximately $28,000. American National Bank & Trust acquired a new stake in Citigroup during the 1st quarter worth $29,000. Mascagni Wealth Management Inc. acquired a new stake in Citigroup during the 4th quarter worth $34,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Citigroup by 68.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 577 shares of the company's stock valued at $38,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on C shares. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler upped their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada reduced their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Oppenheimer set a $123.00 price target on Citigroup and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $96.46.

Citigroup Stock Performance

Shares of C traded up $0.13 during mid-day trading on Thursday, hitting $96.12. The stock had a trading volume of 6,435,482 shares, compared to its average volume of 15,906,691. The business has a fifty day moving average price of $81.57 and a 200-day moving average price of $75.94. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.91. The firm has a market cap of $179.52 billion, a P/E ratio of 14.20, a PEG ratio of 0.81 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share 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 firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the business earned $1.52 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current 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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup's payout ratio is presently 33.09%.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director directly owned 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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.