Highland Capital Management LLC Increases Stake in Citigroup Inc. (NYSE:C)

Highland Capital Management LLC increased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,819 shares of the company's stock after purchasing an additional 8,808 shares during the quarter. Citigroup makes up approximately 0.9% of Highland Capital Management LLC's portfolio, making the stock its 21st biggest position. Highland Capital Management LLC's holdings in Citigroup were worth $14,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in C. Norges Bank purchased a new stake in Citigroup during the fourth quarter worth approximately $1,935,599,000. Capital World Investors lifted its stake in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares during the last quarter. FMR LLC increased its position in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the period. Raymond James Financial Inc. purchased a new stake in Citigroup in the fourth quarter valued at approximately $198,231,000. Finally, Franklin Resources Inc. lifted its stake in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. 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 corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on C shares. TD Cowen started coverage on Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $84.03.

Citigroup Price Performance

Citigroup stock opened at $84.41 on Friday. The business has a 50 day simple moving average of $74.53 and a 200-day simple moving average of $73.62. The stock has a market capitalization of $157.66 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.79.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is currently 35.39%.

Citigroup Company 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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