Independent Advisor Alliance Boosts Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Independent Advisor Alliance increased its stake in Citigroup Inc. by 5.8% during the 1st quarter, now holding 85,660 shares valued at approximately $6.08 million.
• Citigroup's recent earnings report revealed a beat on EPS estimates at $1.96, exceeding the consensus of $1.61 and showcasing a revenue increase of 8.2% year-over-year.
• The company raised its quarterly dividend to $0.60 per share, up from $0.56, representing a 2.6% yield based on current stock prices.

Independent Advisor Alliance raised its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,660 shares of the company's stock after acquiring an additional 4,704 shares during the quarter. Independent Advisor Alliance's holdings in Citigroup were worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its stake in shares of Citigroup by 69.9% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,078 shares of the company's stock valued at $357,000 after purchasing an additional 2,090 shares in the last quarter. Townsquare Capital LLC increased its stake in shares of Citigroup by 4.8% during the fourth quarter. Townsquare Capital LLC now owns 143,794 shares of the company's stock valued at $10,122,000 after purchasing an additional 6,527 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $887,000. Finally, Advisors Capital Management LLC increased its position in shares of Citigroup by 1.4% during the fourth quarter. Advisors Capital Management LLC now owns 763,582 shares of the company's stock valued at $53,749,000 after acquiring an additional 10,696 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Buying and Selling 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 shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.08% of the company's stock.

Citigroup Stock Up 0.8%

Shares of C traded up $0.78 during mid-day trading on Thursday, hitting $95.43. The company's stock had a trading volume of 13,284,947 shares, compared to its average volume of 15,870,422. The company's 50-day moving average is $87.15 and its 200-day moving average is $77.67. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The firm has a market capitalization of $175.68 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.82 and a beta of 1.38. The company has a current ratio of 0.99, a quick 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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The company's revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on C shares. Morgan Stanley raised their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on shares of Citigroup in a report on Monday, July 7th. Barclays boosted their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. TD Cowen upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price target on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average 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.