Gulf International Bank UK Ltd Sells 43,840 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Citigroup by 28.8%, selling 43,840 shares, and now holds 108,472 shares worth approximately $7.7 million.
• Citigroup announced a quarterly dividend of $0.60 per share, increasing from a previous dividend of $0.56, representing an annualized yield of 2.5%.
• Analysts have raised their price targets for Citigroup, with Wells Fargo increasing their target from $110 to $115, indicating a positive outlook for the stock.

Gulf International Bank UK Ltd decreased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,472 shares of the company's stock after selling 43,840 shares during the period. Gulf International Bank UK Ltd's holdings in Citigroup were worth $7,700,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in C. Orion Capital Management LLC bought a new position in Citigroup in the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup in the first quarter valued at $28,000. American National Bank & Trust bought a new position in Citigroup in the first quarter valued at $29,000. Accent Capital Management LLC grew its position in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Finally, Mascagni Wealth Management Inc. bought a new position in Citigroup in the fourth quarter valued at $34,000. Institutional investors own 71.72% of the company's stock.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Performance

NYSE C opened at $95.67 on Wednesday. The firm has a 50-day moving average of $86.78 and a 200-day moving average of $77.55. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $176.12 billion, a PE ratio of 14.13, a P/E/G ratio of 0.79 and a beta of 1.38. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90.

Citigroup (NYSE:C - Get Free Report) last posted its 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. The company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 35.45%.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Morgan Stanley raised their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Cowen assumed coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Finally, Royal Bank Of Canada decreased their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.

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