Fiera Capital Corp Increases Position in Citigroup Inc. (NYSE:C)

Key Points

• Fiera Capital Corp increased its holdings in Citigroup Inc. by 55.7% during Q1, owning a total of 185,085 shares valued at $13.14 million as per their recent SEC filing.
• Citigroup declared a quarterly dividend of $0.60, up from $0.56, reflecting a 2.54% yield and a payout ratio of 33.09%.
• Analysts have a mixed outlook on Citigroup, with a consensus rating of "Moderate Buy" and target prices ranging from $77.00 to $104.00.

Fiera Capital Corp lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 55.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,085 shares of the company's stock after acquiring an additional 66,243 shares during the quarter. Fiera Capital Corp's holdings in Citigroup were worth $13,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Citigroup by 74.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 49,019 shares of the company's stock valued at $3,591,000 after purchasing an additional 20,918 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Citigroup by 23.6% during the fourth quarter. Clearbridge Investments LLC now owns 176,029 shares of the company's stock valued at $12,391,000 after purchasing an additional 33,641 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Citigroup by 6.4% during the fourth quarter. Alliancebernstein L.P. now owns 4,256,282 shares of the company's stock valued at $299,600,000 after purchasing an additional 254,264 shares in the last quarter. Finally, Summit Financial LLC lifted its holdings in Citigroup by 9.3% during the fourth quarter. Summit Financial LLC now owns 14,926 shares of the company's stock valued at $1,051,000 after purchasing an additional 1,264 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on C shares. TD Cowen increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Oppenheimer raised their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday. Truist Financial raised their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley raised their price target 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. Finally, Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Stock Down 2.0%

Citigroup stock traded down $1.86 during trading on Friday, reaching $91.84. The stock had a trading volume of 17,720,492 shares, compared to its average volume of 15,950,848. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $96.90. The business has a 50 day moving average price of $83.98 and a 200 day moving average price of $76.86. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market cap of $171.53 billion, a PE ratio of 13.57, a P/E/G ratio of 0.82 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue was up 8.2% compared to the same quarter last year. 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 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's dividend payout ratio is currently 35.45%.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated 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 approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

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.