Empower Advisory Group LLC Has $11.67 Million Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Empower Advisory Group LLC reduced its holdings in Citigroup Inc. by 3.5% during the 1st quarter, with their ownership amounting to approximately $11.67 million after selling nearly 6,000 shares.
• Citigroup's stock received upgrades from multiple analysts, with Bank of America and Barclays raising their target prices to $100, and an average rating of "Moderate Buy" among analysts.
• The company declared an increase in its quarterly dividend to $0.60 per share, reflecting a positive change from the previous $0.56, with a dividend yield of 2.6%.

Empower Advisory Group LLC reduced its position in Citigroup Inc. (NYSE:C - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,370 shares of the company's stock after selling 5,947 shares during the period. Empower Advisory Group LLC's holdings in Citigroup were worth $11,669,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of C. Orion Capital Management LLC acquired a new stake in Citigroup in the 4th quarter valued at approximately $28,000. MorganRosel Wealth Management LLC acquired a new stake in Citigroup in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC grew its holdings in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares during the last quarter. American National Bank & Trust acquired a new stake in Citigroup in the 1st quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Citigroup in the 4th quarter valued at approximately $34,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Bank of America increased their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Barclays increased their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley increased their target price on Citigroup from $103.00 to $107.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company insiders.

Citigroup Stock Down 0.6%

Shares of Citigroup stock opened at $91.52 on Wednesday. The business's 50 day simple moving average is $85.06 and its 200 day simple moving average is $77.15. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The firm has a market cap of $170.93 billion, a PE ratio of 13.52, a P/E/G ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. 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. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Citigroup's payout ratio is presently 35.45%.

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.

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