Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stake in Citigroup Inc. (NYSE:C)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Citigroup Inc. by 18.9%, owning a total of 265,964 shares valued at approximately $18.88 million after selling 61,900 shares in the first quarter.
• Citigroup recently announced a dividend increase to $0.60 per share, up from $0.56, with an annualized yield of 2.5%.
• Several analysts have adjusted their price targets for Citigroup, with TD Cowen raising it to $95.00 and Wells Fargo increasing it to $115.00, indicating varied outlooks among financial experts.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Citigroup Inc. (NYSE:C - Free Report) by 18.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,964 shares of the company's stock after selling 61,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Citigroup were worth $18,881,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of C. Brighton Jones LLC raised its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Mariner LLC raised its holdings in Citigroup by 4.5% during the fourth quarter. Mariner LLC now owns 403,987 shares of the company's stock worth $28,437,000 after purchasing an additional 17,350 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in Citigroup by 32.5% during the fourth quarter. CreativeOne Wealth LLC now owns 15,882 shares of the company's stock worth $1,118,000 after purchasing an additional 3,896 shares during the last quarter. United Capital Financial Advisors LLC raised its holdings in Citigroup by 3.0% during the fourth quarter. United Capital Financial Advisors LLC now owns 33,040 shares of the company's stock worth $2,326,000 after purchasing an additional 966 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Citigroup by 772.8% during the fourth quarter. Evergreen Capital Management LLC now owns 125,985 shares of the company's stock worth $8,868,000 after purchasing an additional 111,550 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Down 1.1%

Shares of NYSE C opened at $94.72 on Thursday. The stock's 50 day moving average price is $87.15 and its two-hundred day moving average price is $77.67. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The stock has a market capitalization of $174.37 billion, a P/E ratio of 13.99, a PEG ratio of 0.82 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly 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. The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $1.52 EPS. On average, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a $0.60 dividend. 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 dividend on an annualized basis and a yield of 2.5%. Citigroup's dividend payout ratio is currently 35.45%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on C. TD Cowen boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Wells Fargo & Company upped their target price on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America upped their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Cowen assumed coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.