First American Trust FSB Sells 19,045 Shares of Citigroup Inc. (NYSE:C)

Key Points

• First American Trust FSB reduced its holdings in Citigroup by 8.9%, selling 19,045 shares, leaving them with 195,835 shares, worth approximately $13.9 million.
• Citigroup declared a quarterly dividend increase to $0.60 per share, with a record date on August 4th and a current yield of 2.6%.
• Analysts have recently raised their price targets for Citigroup, with Wells Fargo setting a new target of $115 and others maintaining a consensus rating of "Moderate Buy."

First American Trust FSB lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 195,835 shares of the company's stock after selling 19,045 shares during the period. Citigroup accounts for about 1.3% of First American Trust FSB's portfolio, making the stock its 19th largest position. First American Trust FSB's holdings in Citigroup were worth $13,902,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. True Wealth Design LLC grew its holdings in shares of Citigroup by 11.1% during the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $84,000 after purchasing an additional 119 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after acquiring an additional 120 shares during the period. Solitude Financial Services lifted its stake in shares of Citigroup by 0.9% during the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after acquiring an additional 140 shares during the period. Insight Inv LLC lifted its stake in shares of Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after acquiring an additional 146 shares during the period. Finally, Trust Co. of Vermont lifted its stake in shares of Citigroup by 14.3% during 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 during the period. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 1.7%

NYSE C opened at $92.79 on Friday. The firm has a market cap of $170.82 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The stock's 50-day moving average is $86.07 and its 200-day moving average is $77.38. Citigroup Inc. has a one year low of $55.51 and a one year high of $96.90.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The company 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%. Citigroup's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm 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 dividend of $0.60 per share. This is an increase 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%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is 35.45%.

Wall Street Analyst Weigh In

C has been the topic of several research reports. Wells Fargo & Company upped their price target on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. TD Cowen upped their price target on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Oppenheimer upped their price target on Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Bank of America upped their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by corporate 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.

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