Longbow Finance SA Has $13.34 Million Position in Citigroup Inc. (NYSE:C)

Key Points

• Longbow Finance SA increased its stake in Citigroup Inc. by 46%, owning 187,893 shares valued at approximately $13.3 million as of the latest reporting period.
• Citigroup announced a quarterly dividend increase to $0.60 per share, reflecting an annualized dividend of $2.40 with a yield of 2.52%.
• Citigroup reported a Q2 EPS of $1.96, beating estimates, with a revenue of $21.67 billion, indicating a year-over-year growth of 8.2%.

Longbow Finance SA boosted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 46.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,893 shares of the company's stock after buying an additional 59,165 shares during the period. Citigroup accounts for about 1.6% of Longbow Finance SA's portfolio, making the stock its 16th largest holding. Longbow Finance SA's holdings in Citigroup were worth $13,339,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Assetmark Inc. grew its stake in shares of Citigroup by 19.3% in the 1st quarter. Assetmark Inc. now owns 144,274 shares of the company's stock valued at $10,242,000 after buying an additional 23,296 shares during the period. Cetera Investment Advisers lifted its holdings in Citigroup by 14.1% during the 1st quarter. Cetera Investment Advisers now owns 430,965 shares of the company's stock worth $30,594,000 after buying an additional 53,321 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Citigroup by 8.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 76,219 shares of the company's stock valued at $5,411,000 after buying an additional 6,061 shares during the period. Brookwood Investment Group LLC acquired a new position in Citigroup during the 1st quarter worth approximately $228,000. Finally, Arlington Capital Management Inc. purchased a new stake in Citigroup during the 1st quarter worth about $1,150,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.7%

NYSE:C traded up $0.65 on Friday, hitting $96.04. 13,537,763 shares of the company's stock traded hands, compared to its average volume of 16,283,003. The firm has a 50-day moving average price of $82.36 and a 200-day moving average price of $76.27. The company has a market cap of $179.37 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.34. Citigroup Inc. has a 1 year low of $53.51 and a 1 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.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 earnings per share. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. Citigroup's payout ratio is 33.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial lifted their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. UBS Group reissued a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Morgan Stanley upped their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, TD Cowen increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Six equities 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.46.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

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.