Knights of Columbus Asset Advisors LLC Grows Position in Citigroup Inc. (NYSE:C)

Key Points

• Knights of Columbus Asset Advisors LLC dramatically increased its stake in Citigroup Inc. by 284,485.2% in Q1, now holding 76,838 shares worth approximately $5.46 million.
• Citigroup is set to increase its quarterly dividend to $0.60 per share, up from $0.56, with a dividend yield of 2.52%.
• Analysts have set a consensus rating of "Moderate Buy" for Citigroup, with an average price target of $96.46.

Knights of Columbus Asset Advisors LLC increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 284,485.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,838 shares of the company's stock after acquiring an additional 76,811 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Citigroup were worth $5,455,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of C. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup in the first quarter worth approximately $28,000. American National Bank & Trust acquired a new stake in Citigroup in the first quarter valued at approximately $29,000. Mascagni Wealth Management Inc. acquired a new stake in Citigroup in the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC increased its holdings in shares of Citigroup by 79.2% during the first quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after acquiring an additional 252 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 value of $301,504.42. Following the completion of the transaction, the director owned 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following 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 disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

C has been the subject of several research reports. Royal Bank Of Canada reduced their price target 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. Wells Fargo & Company raised their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Cowen started coverage on shares of Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Oppenheimer raised their price target on shares of Citigroup from $107.00 to $123.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Bank of America lifted their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.46.

Citigroup Price Performance

Citigroup stock traded up $0.65 during mid-day trading on Friday, hitting $96.04. The stock had a trading volume of 13,537,763 shares, compared to its average volume of 16,283,003. Citigroup Inc. has a one year low of $53.51 and a one year high of $96.90. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $179.37 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.83 and a beta of 1.34. The firm's 50 day moving average is $82.36 and its 200 day moving average is $76.27.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter last year, the business posted $1.52 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 33.09%.

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.