Foundations Investment Advisors LLC Has $27.28 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Foundations Investment Advisors LLC increased its stake in Citigroup Inc. by 20.2% during the 1st quarter, bringing their total holdings to 384,290 shares valued at approximately $27.3 million.
• Citigroup has recently seen positive adjustments from analysts, with Goldman Sachs raising its target price from $85.00 to $96.00 and Morgan Stanley increasing it from $103.00 to $107.00.
• The company announced a Quarterly Dividend increase to $0.60, representing a 2.50% dividend yield, with the payout scheduled for August 22nd.

Foundations Investment Advisors LLC grew its position in Citigroup Inc. (NYSE:C - Free Report) by 20.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 384,290 shares of the company's stock after buying an additional 64,621 shares during the quarter. Foundations Investment Advisors LLC's holdings in Citigroup were worth $27,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of Citigroup by 3.4% during the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock valued at $24,844,000 after purchasing an additional 11,674 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after purchasing an additional 649,807 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Citigroup by 166.9% during the 4th 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 during the last quarter. Finally, Onyx Bridge Wealth Group LLC bought a new stake in shares of Citigroup during the 1st quarter valued at approximately $214,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 1.5%

Shares of NYSE C traded down $1.41 during midday trading on Thursday, reaching $94.41. The stock had a trading volume of 7,158,719 shares, compared to its average volume of 15,882,013. The firm has a market cap of $176.32 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.81 and a beta of 1.34. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $96.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. The company's 50 day moving average price is $83.58 and its 200 day moving average price is $76.72.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 33.09%.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were 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 in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Oppenheimer boosted their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average target price of $96.54.

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.