FLC Capital Advisors Purchases Shares of 2,979 Citigroup Inc. (NYSE:C)

FLC Capital Advisors purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,979 shares of the company's stock, valued at approximately $211,000.

Several other large investors also recently made changes to their positions in the business. Archer Investment Corp lifted its stake in shares of Citigroup by 1,375.0% during the first quarter. Archer Investment Corp now owns 7,832 shares of the company's stock valued at $556,000 after acquiring an additional 7,301 shares during the period. Jennison Associates LLC grew its stake in Citigroup by 0.9% in the first quarter. Jennison Associates LLC now owns 24,204 shares of the company's stock valued at $1,718,000 after purchasing an additional 219 shares in the last quarter. Mystic Asset Management Inc. boosted its stake in shares of Citigroup by 0.5% during the 1st quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock worth $2,066,000 after acquiring an additional 150 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Citigroup by 31.2% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 26,434 shares of the company's stock worth $1,877,000 after acquiring an additional 6,293 shares during the period. Finally, Easterly Investment Partners LLC lifted its holdings in Citigroup by 10.0% during the 1st quarter. Easterly Investment Partners LLC now owns 283,093 shares of the company's stock worth $20,097,000 after purchasing an additional 25,665 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday. The Goldman Sachs Group upped their price target on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada reduced their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Cowen began coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.46.

Citigroup Stock Performance

Shares of C traded up $0.07 on Friday, reaching $93.16. 4,080,792 shares of the company's stock traded hands, compared to its average volume of 14,631,203. The stock's 50 day simple moving average is $79.99 and its two-hundred day simple moving average is $75.29. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $93.79. The stock has a market cap of $173.99 billion, a PE ratio of 13.77, a PEG ratio of 0.70 and a beta of 1.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the company earned $1.52 earnings per share. Citigroup's revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast 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 paid 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 yield of 2.58%. Citigroup's dividend payout ratio (DPR) is currently 33.09%.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director owned 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.

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