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Measured Wealth Private Client Group LLC Makes New $1.05 Million Investment in Citigroup Inc. (NYSE:C)

Citigroup logo with Financial Services background

Key Points

  • Measured Wealth Private Client Group LLC acquired a new stake in Citigroup, purchasing 14,822 shares valued at approximately $1,052,000 during the first quarter.
  • Citigroup announced an increase in its quarterly dividend to $0.60, which will be paid on August 22nd, resulting in an annual yield of 2.6%.
  • A number of analysts have recently upgraded Citigroup's stock ratings, with a consensus rating of "Moderate Buy" and a price target of $96.54.
  • Want stock alerts on Citigroup? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Measured Wealth Private Client Group LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,822 shares of the company's stock, valued at approximately $1,052,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after acquiring an additional 815,003 shares in the last quarter. Capital World Investors raised its stake in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. Northern Trust Corp grew its holdings in Citigroup by 13.9% during the fourth 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. Goldman Sachs Group Inc. grew its holdings in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Citigroup by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company's stock valued at $947,082,000 after buying an additional 46,646 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

C stock traded up $1.56 during trading on Friday, reaching $92.79. 10,764,944 shares of the stock were exchanged, compared to its average volume of 17,127,052. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a 50 day simple moving average of $86.07 and a 200-day simple moving average of $77.34. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90. The company has a market capitalization of $170.82 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's payout ratio is presently 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's 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 completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Oppenheimer lifted their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their price target on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. TD Cowen increased their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley increased their price objective on Citigroup from $103.00 to $107.00 and gave the stock 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.54.

View Our Latest Stock Report on Citigroup

Citigroup Profile

(Free Report)

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.

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