Madison Asset Management LLC Invests $248,000 in Citigroup Inc. (NYSE:C)

Madison Asset Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,500 shares of the company's stock, valued at approximately $248,000.

A number of other hedge funds have also recently added to or reduced their stakes in C. True Wealth Design LLC lifted its holdings in Citigroup by 11.1% during the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after purchasing an additional 119 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after purchasing an additional 120 shares in the last quarter. Insight Inv LLC lifted its holdings in Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Citigroup by 14.3% during the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock valued at $85,000 after purchasing an additional 150 shares in the last quarter. Finally, Mystic Asset Management Inc. raised its position in shares of Citigroup by 0.5% in the first quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock valued at $2,066,000 after buying an additional 150 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

C has been the subject of several recent analyst reports. UBS Group restated a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Bank of America raised their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $96.46.

Insider Activity

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

Citigroup Price Performance

Shares of NYSE:C traded up $0.65 on Friday, reaching $96.04. 13,537,763 shares of the company were exchanged, compared to its average volume of 16,283,003. 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 Inc. has a 1-year low of $53.51 and a 1-year high of $96.90. The firm has a market cap of $179.37 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.34. The company has a 50-day moving average of $82.36 and a 200-day moving average of $76.27.

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

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors 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 annualized dividend and a dividend yield of 2.50%. Citigroup's payout ratio is currently 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.