Letko Brosseau & Associates Inc. Has $71.58 Million Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Letko Brosseau & Associates Inc. has reduced its stake in Citigroup by 15.9%, selling 190,575 shares, but continues to hold approximately 1 million shares, which represent 1.5% of their portfolio.
• Citigroup reported an earnings per share (EPS) of $1.96 for the last quarter, exceeding analysts' expectations of $1.61, and had revenue of $21.67 billion, up 8.2% year-over-year.
• The company has announced an increase in its quarterly dividend from $0.56 to $0.60, with the next payment scheduled for August 22nd, offering a yield of 2.54%.

Letko Brosseau & Associates Inc. lowered its stake in Citigroup Inc. (NYSE:C - Free Report) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,008,287 shares of the company's stock after selling 190,575 shares during the quarter. Citigroup makes up 1.5% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 26th largest holding. Letko Brosseau & Associates Inc. owned about 0.05% of Citigroup worth $71,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of C. Capital World Investors increased its holdings in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the period. FMR LLC increased its holdings in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Capital International Investors increased its holdings in shares of Citigroup by 148.6% in the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company's stock valued at $318,507,000 after purchasing an additional 2,704,783 shares during the period. Northern Trust Corp increased its holdings in shares of Citigroup by 13.9% in the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after purchasing an additional 2,467,958 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Citigroup by 7,899.8% in the 1st quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock valued at $172,535,000 after purchasing an additional 2,400,033 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on C shares. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Oppenheimer boosted their price target on Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Cowen began coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Stock Performance

C traded down $1.86 on Friday, hitting $91.84. The company had a trading volume of 17,720,586 shares, compared to its average volume of 15,836,717. The company's fifty day moving average price is $83.98 and its 200 day moving average price is $76.86. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $96.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market cap of $171.53 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last posted its 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 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 analyst estimates of $20.75 billion. During the same period 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. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio is presently 33.09%.

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.